Finance

Tim Buckley, director of Climate Energy Finance, speaks to pv magazine as part of our Only5mins! series about the crisis threatening Adani Group with collapse, the “positive outlook” for Australian renewables, and the nation’s potential to become a clean energy superpower.

The budget signifies the government’s intent to drive domestic manufacturing of lithium battery cells as it waives customs duty on the import of machinery required for manufacturing these cells. It also continues with nil customs duty on critical inputs for solar manufacturing. The budget also aims to support large-scale battery storage projects through viability gap funding.

Malaysian oil giant Petronas is reportedly set to buy the Australian renewable assets of German developer Wirsol. With roughly 750 MW of solar and storage projects and nearly double that in development, the deal could be worth between $900 million (USD 625 million) to $1 billion, according to Reuters.

The New England and Stubbo solar farms in regional New South Wales are now 100% owned by ACEN after the Philippines-based energy company, through its subsidiary ACEN Renewables International, completed its acquisition of the development platform UPC/AC Renewables Australia.

Australian-headquartered solar data specialist Solcast has been acquired by Norwegian energy assurance and risk management company DNV as it seeks to strengthen its solar forecasting services to help maximise the value of PV power plants globally.

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.