Finance

Australia will invest $2 billion into Southeast Asia green energy and infrastructure development as part of a broader economic strategy that estimates the region’s electricity generation needs by 2050 to be 454 GW.

Danish renewables developer European Energy has started construction of what it expects will be its first operating solar farm in Australia where it is progressing the development of an 8 GW pipeline of renewable energy projects.

After receiving an initial takeover bid last month, Australian renewable power generation and energy storage developer Genex Power has received a revised acquisition offer from Japanese energy company and anchor investor J-Power.

The Queensland government has announced plans to deliver the key infrastructure and support microgrid feasibility studies in five remote townships as it seeks to promote energy sovereignty for communities on the edge of the electricity grid.

The staff of a Victorian solar retail and installation business have lost their jobs and customers and suppliers are owed millions of dollars after the company was placed in the hands of administrators.

German solar technology developer and retailer 1komma5° has continued to strengthen its presence in the Australian market with the acquisition of Queensland-based Arkana Energy Group.

Wood Mackenzie says the levelized cost of electricity in the Asia-Pacific region hit an all-time low in 2023, as utility-scale PV beat coal to become the cheapest power source. It predicts a further drop in costs for new-build solar projects, driven by falling module prices and oversupply from China.

Philippines-based energy company ACEN Corporation has secured a $150 million funding package that will bolster its plans to deliver a 9 GW portfolio of solar, wind, battery storage and pumped hydro projects in Australia.

Origin Energy has issued a notice to proceed to EPC contractor Fluence for its 300 MW / 650 MWh battery energy storage project planned for Mortlake in southwest Victoria, progressing the company’s goal to build its renewables and storage portfolio to 4 GW by 2030.

Spain’s government has submitted a new incentive scheme to a public consultation. It is designed to support the development of a clean-tech supply chain in the country, including the production of batteries.