Major funds for state-owned clean energy venture, education and innovation in Victoria’s new budget
Victoria’s newly released state budget includes $1 billion (USD 670 million) for the resurrected government energy outfit, the State Electricity Commission, almost $200 million for clean energy education, as well as funding to streamline critical minerals projects and to install 100 new neighbourhood batteries.
Maxeon raises $300 million for IBC module manufacturing expansion
Maxeon Solar Technologies, the producer of the Maxeon and SunPower solar module brands, is raising capital from a USD 157.4 million ($237 million) underwriting of shares and a separate USD 42 million ($63 million) private placement with TCL Zhonghuan.
Powerlink extends payment plan to smooth way for transmission infrastructure
In what it says is an Australian first, Queensland network operator Powerlink will offer owners of land adjacent to new transmission lines compensation payments as it looks to roll out new infrastructure to ensure the future security of the energy grid.
Hydrogen breakthrough sees Professor awarded $3.7 million to commercialise technology
A prestigious award, along with $3.7 million (USD 2.5 million) has been awarded to University of Wollongong electrochemist Professor Gerhard Swiegers for his efficiency breakthrough for hydrogen electrolysers, which are currently being commercialised by startup Hysata.
Major union proposes ‘punitive’ tax on export of raw critical minerals from Australia
An influential Australian union will propose a “significant, punitive tax” on the export of raw critical minerals as a means of promoting more value-adding onshore. The news comes as longstanding trade allies voice criticism over Australia’s growing momentum towards domestic manufacturing.
Another lithium mine approved in the Northern Territory
The Northern Territory government has granted the final approvals for Core Lithium’s BP33 underground lithium mine, part of the company’s ongoing operations in Darwin.
Territory targets ‘renewable energy hub’ with budget spend
The Northern Territory government has committed $12 million (USD 8.05 million) in its latest budget to accelerate the development of a “sustainable” industrial hub that will be largely powered by renewables as it looks to continue the overhaul of its electricity system.
Australia to invest $2 billion in hydrogen
The Australian government has presented its 2023-2024 budget, with $2 billion (USD 1.35 billion) to be invested in hydrogen, while Austria, Germany, and Italy said they have started moving forward on a southern hydrogen corridor from North Africa to Northern Europe.
WA backs big batteries to support energy transition
The West Australian government will plough almost $3 billion (USD 2.03 billion) into renewable energy generation, storage and transmission projects with modelling revealing more than 50 GW of new generation and storage capacity will be required in the state’s main electricity grid within the next 20 years.
Clean energy takes centre stage in federal budget, industry reactions
The Albanese Labor government has delivered its 2023 – 2024 budget, placing energy front and centre. The budget takes the government’s total spend on making Australia a renewable superpower to $40 billion (USD 27 billion). While many in the industry have applauded the budget, there are some glaring contradictions.
