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Finance

New WoodMac report forecasts renewables cheaper than coal by 2030 across Asia-Pacific

A new Wood Mackenzie report has forecasted a massive swing in the levelised cost of electricity across the Asia-Pacific over the course o the next decade. Before 2030, renewables will be cheaper than new coal and gas almost everywhere, and significantly cheaper in Australia.

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Japanese owner of WA’s Bluewaters coal plant reports worst ever loss in face of energy transition

The Sumitomo Corporation has reported a stunning ¥26bn (US$251m) loss on its Western Australian Bluewaters coal fired power investment. The loss assures the company’s worst ever annual performance and comes as a result of international and financial pressure against coal funding.

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Vast array of global banks revealed as green financiers of 460 MW Western Downs Green Power Hub

Neoen announced last month that it had completed the financing of its 460 MW Western Downs Green Power Hub, but today it has been revealed that said green finance came about through a wide reaching international effort, including seven global banks, a salutary sign that green finance is accelerating as fossil fuel divestment continues.

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Danish investment fund backs 5 GW WA renewable hydrogen project

Danish investment firm Copenhagen Infrastructure Partners has given its partnership to Hydrogen Renewables Australia as it looks to develop the 5,000 Mw Murchison Renewable Hydrogen Project near Kalbarri in Western Australia. The project looks to utilise Australia’s best wind and solar resources to produce hydrogen fuel for export to nations such as Japan and Korea.

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NSW orchestrates 12 GW of renewables and 2 GW of pumped hydro by 2030

A steady progression of targets, plans and policy adjustments come together in the ‘NSW Electricity Infrastructure Roadmap’ as the Berejiklian Government strives to get ahead of the retirement of coal-fired generators — and fire up the state economy!

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Beryl and Manildra Solar Farms up for sale as investor exits Oz

New Energy Solar is an investment fund focused on helping investors benefit from a global shift to renewable energy. It’s selling its Australian solar assets because the climate isn’t right?

SA Government contracts for energy to advance Cultana Solar Farm and Playford Utility Battery

Construction of South Australia’s biggest solar farm, and the state’s fifth “big” battery will provide 810 jobs and a $41 million boost to the economy around Whyalla. The Marshall Government buys in and forecasts a $12.8 million saving on its energy expenditure over the term of its 10-year energy contract.

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Weekend read: Singapore solar walks the talk

Earlier this year, Singapore surpassed its 2020 target for 350 MW of installed PV, and has set itself a more ambitious goal of 2 GW for the coming decade. pv magazine recently spoke with Thomas Reindl, deputy CEO of the Solar Energy Research Institute of Singapore (SERIS) – and also the lead author of a 2020 update to the institute’s PV Roadmap for Singapore report – to catch up on the latest developments in the city-state’s PV market.

Long-read: Finance hopping the fence to the greener grass

As Green Finance begins to be seen more and more as global best practice the energy transition can only accelerate. This week, two stories attest to the growing acceptance of green finance by major financial institutions – ANZ Bank has pledged to extricate itself from thermal coal by 2030 and pursue more sustainable policies and Mike Cannon-Brookes supported startup Brighte announces Australia’s first 100% green asset-backed securitisation, $190 million in debt financing for Australians looking to uptake solar and battery storage in their home.

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Major economies should divert fossil fuel Covid-recovery cash to clean energy before it’s too late

A report by Finnish company Wärtsilä has estimated the potential impact if every dollar committed to a non-renewables energy sector recovery was instead funnelled to clean power.

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