Finance

Storage Hub founder Oliver Schmidt speaks with pv magazine about his outlook for battery energy storage pricing and the cost trajectory of electrolyzers. Schmidt’s new book, “Monetising Energy Storage – A toolkit to assess future cost and value,” will be published by Oxford University Press in June.

Just weeks after announcing its intent to build a $300 million (USD 210 million) lithium-ion battery manufacturing facility in Victoria, Australia-based Recharge Industries is reportedly considering a bid for the collapsed UK battery company Britishvolt that could revive plans to construct a battery cell gigafactory in northern England.

CleanPeak Energy, who have until now specialised in the C&I segment, have acquired the 13 MW Mugga Lane Solar Park in Canberra. CleanPeak reportedly bought the solar farm for between $30 million (USD 21 million) and $40 million, after it was placed into voluntary administration following a loan dispute.

Sun Cable, the company behind the world’s largest solar and storage project, has officially gone up for sale after entering voluntary administration in January. Its administrator, FTI Consulting, is seeking binding offers of acquisition or recapitalisation by the end of April with a deal to be finalised by May’s end.

Australian renewable energy developer MPower has acquired the shovel-ready 5 MW Faraday solar project in Victoria. The purchase is part of the company’s broad mid-scale strategy.

Commercial and industrial energy retailer SmartestEnergy Australia have signed a power purchasing agreement with Octopus Australia to offtake 25% of generation from its Darlington Point Solar Farm in New South Wales.

An Australian cleantech company that claims its technology could enable hydrogen production of below $1.50 per kilogram by the middle of the decade is one of four green fuel projects to share in more than $100 million (USD 78 million) funding awarded as part of a collaboration between the Australian and German governments.

A German startup led by European heavyweights and backed by major institutional capital continues its aggressive acquisitions strategy in Australia, taking a majority stake in Solaray Energy – its second major APAC buy following Natural Solar. Company 1Komma5 is seeking to consolidate Australia’s residential solar sector to become the largest provider of home renewable technologies, devoting $100 million (USD 70m) to “strategically” acquire a number of businesses here within the year.

Two of Australia’s richest people are expected to be rivals in the bidding process for Sun Cable, the developer of what would be the world’s biggest intercontinental solar and energy storage project, with administrators indicating the sale process could be completed within three months.

JA Solar says it will build a new manufacturing facility in Inner Mongolia, China. The plant will produce everything from polysilicon to solar panels.