IEEFA calls for inquiry after network providers pocket ‘supernormal’ profits
The Institute for Energy Economics and Financial Analysis is calling for an independent inquiry into Australia’s electricity networks and their regulators claiming Australians have been overcharged $10 billion (USD 6.5 billion) in the past eight years by distribution and transmission network service businesses making “supernormal” profits from consumers forced to use their poles and wires.
Neoen completes financing for its Canberra big battery
French renewables developer Neoen has completed the financing for its 100 MW / 200 MWh Capital Battery in Canberra, declaring the project is on track to be operational in the first half of 2023.
NSW opens first in a decade of renewable tenders, targeting 12 GW of generation by 2030
New South Wales has today opened the first in what’s to be a decade of rolling tenders, part of the state’s momentous vision of fitting out 12 GW of renewable energy capacity and 2 GW of storage by 2030.
ACEN commits $800 million for 600 MW solar and storage project
A solar PV and battery energy storage project planned for the New South Wales Central West tablelands has achieved a major milestone with project developer ACEN Corporation approving $800 million for the construction of the 400 MW Stubbo Solar Farm.
FRV announces plans for Australian first big battery
Fotowatio Renewable Ventures has unveiled plans to deliver its first standalone battery energy storage system in Australia, announcing it will build a 100 MW/200 MWh big battery in Victoria’s southwest after securing $7 million in funding from the state government.
Queensland warned more work needed to deliver energy transition
The release of Queensland’s $62 billion energy and jobs plan which would shift the state away from coal power by 2035 has been broadly welcomed but the resources sector has warned the government has plenty of work to do to attract the large-scale investment required to implement the strategy.
Queensland announces ‘biggest pumped hydro scheme in the world’
Queensland Premier Annastacia Palaszczuk has launched a $62 billion energy and jobs plan, which includes the biggest pumped hydro scheme in the world. The government is also planning to convert publicly owned coal-fired power stations into clean energy hubs from 2027.
Retailer secures $150 million expansion investment from South Korea
Hanwha Energy Australia, owner of retail energy business Nectr, has secured $150 million in investment to fast track its Australian growth, including deploying VPPs and developing utility-scale generation projects.
ACEN adds $140 million to support 20 GW portfolio strategy
ACEN Australia declared the first stage of the 720 MW New England Solar Farm is on track to commence commercial operations in 2023 while announcing it has secured a $140 million loan agreement that will help grow its renewables capacity in the Asia-Pacific region to 20 GW by 2030.
Study shows switching to renewables by 2050 would save world trillions
Transitioning from fossil fuels to renewable energy technologies including solar PV and green hydrogen by 2050 could save the world at least $18 trillion (US$12 trillion), according to a peer-reviewed study published by researchers from Britain’s Oxford University and Australia’s Monash University.
