Finance

Construction of the 350 MW Blind Creek solar farm and large-scale battery energy storage project planned for southeast New South Wales is set to begin next year with renewables developer Octopus Australia announcing the state government has now granted planning approval.

Gas major Atco has ditched its plans for a commercial-scale green hydrogen manufacturing facility proposed for Western Australia’s remote midwest, saying the distance between the production facility and end use undermined the commercial viability of the project.

The Australian government has committed $50 million to support the development and diversification of clean energy supply chains in the Indo-Pacific as it seeks to increase manufacturing opportunities and enhance energy security in the region.

Australia’s Fortescue Future Industries has made its first major move in the United States since the passage of the landmark Inflation Reduction Act, outlaying $34.42 million (USD 24 million) to purchase the ‘fast-to-market’ Phoenix Hydrogen Hub being developed in the American state of Arizona.

A new report released by Australia’s national science agency shows that renewables, led by large-scale and rooftop solar, remain the cheapest form of new-build power generation in Australia despite a 20% average rise in technology costs.

The growth of European rooftop solar continues this year, with innovative companies raising capital to develop the market. It’s an encouraging trend with the potential to accelerate rooftop solar adoption. pv magazine correspondent Valerie Thompson takes a closer look.

Japanese oil and gas giant Inpex has struck a deal to buy 50% of Italian utilities giant Enel Group’s Australian renewable energy platform, Enel Green Power Australia, handing it joint control of a solar farms portfolio that includes 254 MW of installed capacity and another 170 MW of renewables under construction.

The 150 MW/300 MWh Ulinda Park battery project planned for Queensland’s Western Downs region is a step closer to a final investment decision with battery and renewable energy developer Akaysha Energy inking a hedging deal designed to manage revenue-related risks for the estimated $150 million (USD 100 million) project.

The Amortisator app, initially developed for the German market, is now available on the Apple and Google Play stores. Primarily targeting customer advisors, the app can be accessed for a monthly fee of €9.99 ($10.93).

A sharp rise in connection and terminal station charges is stalling storage from coming online, according to an Australian developer. While the price hikes could be attributable to a quagmire of complications the industry currently faces, the developer questioned whether Australia’s TNSP monopoly system is a contributing factor.