Finance

Enel Green Power Australia has boosted its renewables portfolio by striking a deal with Queensland-headquartered minerals explorer QEM to purchase what would be one of the state’s biggest renewable energy farms in a deal worth more than $7 million (USD 4.68 million).

Squadron Energy, the private renewables group controlled by the billionaire Forrest family, has pledged to deliver 14 GW of new clean energy generation and storage projects in Australia by the end of the decade.

Australian startup NRN is rolling out its proposition to fit households with solar and batteries at no cost to consumers. Announcing its partnership with retailer Diamond Energy and the completion of a $13.5 million (USD 9.18 million) capital raise, the company believes it’s found the trick to successfully deploying free household renewables by focussing on retailer value. Pv magazine Australia spoke to NRN and experts about how exactly the model works and where the value comes from.

Six green hydrogen projects with a total electrolyser capacity of more 3.5 GW have been shortlisted for the Australian government’s $2 billion (USD 1.35 billion) Hydrogen Headstart initiative that is intended to support the development of 1 GW of electrolyser capacity by 2030 through two to three “flagship” projects.

The Marinus Link power cable to be built between Victoria and Tasmania is a step closer to reality after the Australian Energy Regulator approved the project’s first revenue proposal, marking the planned early works spend as “prudent and efficient.”

Solar developer Lightsource bp has declared that proceeds from the sale of five utility scale PV projects in Australia with a combined capacity of more than 1 GW will be used to fast track the development of a pipeline of projects across the wider Asia Pacific region.

China’s solar industry rebounded in 2023 after years of pandemic-related sluggishness. As the year draws to a close, Vincent Shaw looks back at key highlights of 2023 and considers the prospects for 2024.

Australia’s independent energy markets and power systems operator has warned urgent investment in generation, firming and transmission is needed with forecasts showing the National Electricity Market needs to almost triple its installed capacity in less than 30 years.

Philippines-based energy company ACEN Corporation plans to bolster its renewable energy initiatives in Australia after sealing a $75 million green term loan facility that will help fund the delivery of an 8 GW portfolio of solar, wind, battery storage and pumped hydro projects.

Smoke from wildfires significantly effects solar output, researchers from UNSW have found. Specifically, Australia’s Black Summer in 2019 – 2020 caused energy losses from residential and utility PV systems estimated between 175 to 35 GWh, equating to a worst-case financial loss of around $6.1 to $29 million.