Finance

We are living through uncertain times. Despite the urgency of the energy transition and the substantial and growing opportunities for new utility-scale (and larger) renewables developments, risks arise for owners, developers, lenders, investors and contractors.

With senators having called for plantation-wide solar powered pumping projects, funded by public money, the country’s National Irrigation Administration has agreed and said it wants to embrace floating solar facilities too.

Emerging Western Australian renewable energy project developer Frontier Energy is pushing ahead with “significantly advanced” plans to develop a large-scale solar PV farm in the state’s southwest after the successful completion of an $8 million capital raising.

Erthos secured a US$17.5 million (AU$24 million) Series B from an investor who participated in the startup of Tesla and SpaceX. The utility-scale solar company has a 2.5GW project pipeline.

ARENA will give $22.8 million in funding to Viva Energy to build a renewable hydrogen and EV charging service station opposite its petroleum refinery in Geelong, Victoria.

AGL has this morning rejected an “unsolicited” $8 billion takeover bid from software billionaire Mike Cannon-Brookes’ Grok Ventures and Canadian fund manager Brookfield. Cannon-Brookes described the consortium as “disappointed” by AGL’s decision, saying it will continue to “move forward” with the bid which would dramatically accelerate coal retirements in Australia.

ARENA has opened round two of its Future Fuels Program, allocating $127.9 million in funding to support fleets to shift to new zero emissions vehicles over the next four years, be that electric, hydrogen, or biofuels.

The Australian government’s green bank has announced the launch of its first specialist fund manager as it looks to increase the amount of investment capital available for clean energy start-ups that can help achieve net zero emissions.

British analyst GlobalData has predicted residential and commercial rooftop panels will not return to a declining price trend until next year, with post-Covid logistics headaches the cause, rather than a polysilicon shortage.

The Victorian government will be expanding its Solar Homes rebate program into the world of Virtual Power Plants (VPPs), announcing on Tuesday that households who install a battery and sign up to the pilot before July 2022 will receive a rebate of over $4000.