Finance

The Marinus Link power cable to be built between Victoria and Tasmania is a step closer to reality after the Australian Energy Regulator approved the project’s first revenue proposal, marking the planned early works spend as “prudent and efficient.”

Solar developer Lightsource bp has declared that proceeds from the sale of five utility scale PV projects in Australia with a combined capacity of more than 1 GW will be used to fast track the development of a pipeline of projects across the wider Asia Pacific region.

China’s solar industry rebounded in 2023 after years of pandemic-related sluggishness. As the year draws to a close, Vincent Shaw looks back at key highlights of 2023 and considers the prospects for 2024.

Australia’s independent energy markets and power systems operator has warned urgent investment in generation, firming and transmission is needed with forecasts showing the National Electricity Market needs to almost triple its installed capacity in less than 30 years.

Philippines-based energy company ACEN Corporation plans to bolster its renewable energy initiatives in Australia after sealing a $75 million green term loan facility that will help fund the delivery of an 8 GW portfolio of solar, wind, battery storage and pumped hydro projects.

Smoke from wildfires significantly effects solar output, researchers from UNSW have found. Specifically, Australia’s Black Summer in 2019 – 2020 caused energy losses from residential and utility PV systems estimated between 175 to 35 GWh, equating to a worst-case financial loss of around $6.1 to $29 million.

Victorian company United Solar Group, which is developing a floating 700 MW solar and 1.5 GWh battery project at the Poonakary Lake in Kilinochchi, Sri Lanka, has had a Power Purchase Agreement approved by the Sri Lankan cabinet.

Major Australian renewable energy portfolio holder Global Power Generation Australia, jointly owned by Spain’s Naturgy and an arm of the Kuwait Investment Authority, is reportedly going up for auction early next year.

In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry.

Authors of the “World Nuclear Industry Status Report 2023” define the future role of nuclear energy in the global energy mix as “irrelevant” and “marginal.” The authors add that there were 407 operational reactors producing 365 GW in the middle of the year, which is less than installed capacity predictions for solar by the end of the year.