Finance

Three Australia-based alumni of climate tech startup accelerator EnergyLab raised a collective $124 million in 2023 for their renewables and energy transition concepts.

Adelaide-headquartered renewable energy gen-tailer Zen Energy will build South Australia’s second-largest battery energy storage system in a move expected to boost the reliability of electricity supply as the state gallops towards its 100% renewable energy target.

Singapore-headquartered renewable energy infrastructure developer Metis Energy has reached financial completion and pressed go for construction to start on the 94 MW Gunsynd Solar Farm being developed in southwest Queensland.

Plans to develop a $3 billion green hydrogen and ammonia project in the far north of Western Australia have been boosted with the federal government tipping in more than $1.6 million to support a feasibility study that will explore the potential of the giga-scale project.

A new report published by the Clean Energy Investor Group calls for federal and state governments to financially back long-duration energy storage assets to ensure Australia’s clean energy transition 2030 targets are met.

Investment bank Macquarie Group has sold its share in the 26 GW Australian Renewable Energy Hub megaproject proposed for Western Australia’s Pilbara region to oil and gas giant bp.

The Northern Territory has emerged as the national leader in solar battery adoption with more than 30% of homes and businesses with rooftop solar systems having now installed a battery.

Australian inverter and battery company Redback Technologies is working to secure new investment after entering into voluntary administration this week. 

Tindo Solar, the country’s only manufacturer of PV panels, has warned Australia must move quickly if it is to capitalise on the manufacturing opportunities presented by the global clean energy transition or risk being left behind.

Queensland-based battery company Redflow has secured up to $1.12 million in government funding to support the development of a large-scale zinc-bromine flow battery prototype and to examine the potential to establish a large-scale battery manufacturing facility in the state.