Finance

Energy and Emissions Reduction Minister Angus Taylor is set to expand the remit of the Clean Energy Finance Corporation to allow it to invest in gas generation. The move, which is so counter-productive that it resembles sabotage, has sparked waves of disapproval from around the nation, led by the Clean Energy Council.

The UK developer has completed the sale of the 162MWac (203MWdc) Columboola Solar Farm in Queensland’s Western Downs, having recently signed a power purchase agreement with state government-owned utility CS Energy.

In light of the recent events that have caused the polysilicon price to skyrocket, solar developers in Australia are being warned about module supply constraints and price volatility over the coming quarter.

In its H1 2020 report, the UK-based infrastructure investor revealed it had suffered substantial losses, mainly due to performance issues on its renewable energy projects. Two of the company’s Australian solar farms were particularly badly hit by transmission and equipment issues.

Such is the Global Village effect that the more globalised we are the more localised we become. The impacts of a global pandemic have choked industries and driven us into self-isolation, but at the same time, we are seeing an acceleration in the ingenuity of sales efficiency in the solar industry and a realisation of the necessity of self-generation. Tie this up with a shift to local government action on renewables and sustainability and the global recovery from Covid-19 is very much a local affair.

New research from Cornwall Insight finds grid-scale solar farms are paying 10-20% of the cost of providing frequency ancillary services to the National Electricity Market, despite currently generating around 3% of energy in the system.

Neoen’s proposed Goyder South Hybrid Renewable Energy project is so vast that analogy does it a disservice. The French developer has commenced the project’s notification period with the submission of its Development Application, giving us the first real opportunity to begin to quantify its sheer enormity. 1200 MW of wind, 600 MW of solar, and 900 MW/1,800 MWh of battery storage.

As part of the state’s economic recovery plan, the Palaszczuk Government has committed $145 million for Renewable Energy Zones in north, central and south-west Queensland.

Analyst IHS Markit has predicted storage will rebound this year following its first year-on-year decline in 2019. The technology is being rolled out at pace despite Covid-19 with state-level policies set to keep the US the global capital for the next five years.

A new analysis by the Clean Energy Council reveals a dramatic fall in the number of large-scale renewable energy projects committed in the second quarter of 2020, with just three projects representing 410 MW of new capacity reaching financial close – the lowest level since 2017.