Finance

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.

The 219 MW / 877 MWh Collie Battery Stage 1 project being constructed in Western Australia’s southwest is the first new asset to be financed through a landmark $1.1 billion deal completed by French renewables developer Neoen.

The New South Wales government has launched a $275 million initiative to stimulate local production and manufacturing of renewable energy generation, storage and transmission components as it seeks to deliver on the state’s clean energy ambitions.

BloombergNEF says in a new report that corporations publicly announced 46 GW of solar and wind power purchase agreements (PPAs) in 2023, up 12% year on year. It says the increase was driven by a surge of activity in Europe.

With the COP28 climate summit in Dubai resulting in a pledge of at least 11 TW of renewables generation capacity by 2030, Bruce Douglas, chief executive officer (CEO) of the Global Renewables Alliance (GRA), examines the outcomes of the conference and their likely impact on the solar industry.

Commonwealth Bank-backed energy retailer and technology company Amber Electric has raised $29 million (USD 18.9 million) in capital that is earmarked to scale the business in Australia and to take its battery and electric vehicle automation software offshore.