Finance

Australian gentailer Snowy Hydro has signed a power purchasing agreement with CWP Renewables for its biggest wind farm, currently in development in New South Wales.

Oil and gas giant BP will take a 40.5% stake in the 26 GW Asian Renewable Energy Hub megaproject proposed for Western Australia’s north coast.

There is enormous demand for renewables to enter the grid, and for power purchase agreements to make use of them. However, as more renewables feed into the grid at intermittent periods, the risk of “revenue cannibalisation” increases. Swiss consultancy Pexapark’s latest report looks at the “cannibalisation effect” and how the solar PPA market can adapt.

Edify Energy has completed the financing for its grid forming 150 MW / 300 MWh battery energy storage system. The system will be made up of three separate batteries in the Riverina region of NSW which have gained approval to operate in ‘virtual synchronous generator’ mode.

Solar installers and resellers can now access up to $250,000 on interest-free terms to increase their stocks of Australian-made solar panels after PV module manufacturer Tindo Solar teamed with business financer Moula Pay.

The New South Wales government has announced its single biggest investment yet in renewable energy infrastructure, committing $1.2 billion to fast-track priority transmission and energy storage projects as the energy sector continues its rapid transformation towards a decarbonised and decentralised future.

The International Renewable Energy Agency’s latest annual report on the progress towards the United Nation’s sustainable development goal seven estimates 670 million people will still lack electricity in 2030, and more than 2 billion will be reliant on unhealthy, polluting cooking methods.

Brisbane-based Line Hydrogen is seeking $2 million in crowdfunding investment from Australians who want to contribute to the green energy revolution at the ground level by getting its Tasmanian and Queensland green hydrogen projects off the ground.

Prefabricated solar array manufacturer 5B has completed a $30 million Series B capital raise with their existing shareholders to help fund continued development of the company’s flagship modular Maverick solar array and accelerate the progress of the company’s pipeline of multi megawatt projects.

Community solar developer Komo Energy is describing it as an “Australian first” after launching a crowd equity funding campaign to help finance the construction of the planned 1.7MW battery ready Grong Grong Solar Farm being developed in the Riverina region of New South Wales.