Finance

South Australia will extend its ‘Switch for Solar’ program in which eligible low-income residents can opt to have a solar system installed in exchange for their next ten years of government concession payments.

U.S. company Verdagy has secured a US$25 million (AU$35 million) investment for its new electrolyser technology, which provides hydrogen fuel for heavy industrial applications. The membrane-based technology uses large active area cells, high current densities, and broad operating ranges to deliver hydrogen at scale.

Spanish renewables group Gransolar says backing from international financier will “supercharge” its growth plans in Australia.

The company behind bill management platform 1bill on Monday announced it will invest more than $2 million in the energy software company Accurassi. The investment will see Accurassi build a platform for energy retailers to accelerate the transition to green energy.

India’s Union Budget, presented this week by Finance Minister Nirmala Sitharaman, allocates an extra INR 19,500 crore ($3.6 billion) to the production-linked incentive scheme for solar from April.

Shell has completed its acquisition of green power company Powershop Australia. The takeover sparked heated outcry when it was first announced in November 2021, reportedly causing Powershop to bleed customers who felt angered and betrayed by the apparent ‘greenwashing’.

Western Australian ocean energy company Bombora Wave Power has received an investment of $6.74 million to deliver its pilot projects and commercialise its technology from one of the world’s largest shipping companies, Japan’s Mitsui O.S.K. Lines.

Victorian network utility AusNet Services appears certain to be entirely foreign owned after shareholders overwhelmingly approved the sale of the company to a consortium led by Canadian asset management group Brookfield.

LG Chem’s energy storage and battery division’s US$10.7 billion (AU$14.8 billion) initial public offering received a staggering response from institutional investors, Reuters has reported.

The Queensland government has highlighted its state attracted as much as $26 billion worth of “new energy economy projects”, according to new national resources reports. The federal government, on the other hand, used the reports to pay tribute almost exclusively to coal, with resources minister Keith Pitt dubbing it a “star”.