Finance

Deutsche Bank has revealed that China’s green finance market surpassed CNY 20 trillion (AU$4.07 billion) in value in the first half of 2022. Haitai Solar has listed shares in Beijing, while Shangji has revealed plans for a new polysilicon project in Inner Mongolia.

An international group of researchers from 15 universities has said that there is growing consensus among scientists that an energy system based on 100% renewables could be achieved cost effectively by 2050.

SMA’s Home Solutions segment was particularly badly hit as the PV inverter manufacturer struggled to meet the demand due to the shortage of materials. The sales and results in the first half of 2022 were therefore significantly worse than in 2021. The company now wants to take “a series of measures to improve its long-term ability to deliver.”

The Australian government’s green bank has inked a landmark agreement with the Queensland government to develop critical transmission and grid infrastructure to connect more than 1.5 GW of renewable energy assets to the National Electricity Market.

Energy company Shell has completed the acquisition of Solenergi Power, an Actis company owning 100% of Indian renewables developer Sprng Energy. The transaction value is US$1.55 billion (AU$2.22 billion), with half as cash Capex and the remainder as debt obligations.

New research from Stanford University researcher Mark Jacobson outlines how 145 countries could meet 100% of their business-as-usual energy needs with wind, water, solar and energy storage. The study finds that in all the countries considered, lower-cost energy and other benefits mean the required investment for transition is paid off within six years. The study also estimates that worldwide, such a transition would create 28 million more jobs than it lost.

The Australian government’s green bank has extended its collaboration with the Australia and New Zealand Banking Group, committing up to $200 million as part of a clean energy asset purchasing program to help Australian businesses invest in energy efficient and renewable technologies to cut costs and reduce emissions.

French company Neoen has seen its storage revenue “more than tripled” as a result of its recently commissioned Victorian Big Battery coupled with Australia’s energy crisis. In other news, the company signed a 10 year power offtake agreement with Flow Power for its “flagship” Goyder Renewables Zone project in South Australia.

Australian hydrogen tech company Hysata has raised over $40 million in funding, attracting backing from major institutional players including CEFC, Hostplus and Bluescope. Hysata is seeking to commercialise a breakthrough made at the University of Wollongong which CEO Paul Barrett describes as “brand new category of electrolyser” with 95% system efficiency.

The introduction of the Federal Government’s climate change bill to parliament has been welcomed with business and industry groups predicting the legislation will unlock hundreds of billions of dollars’ worth of export opportunities and investments in renewable energy, transmission and storage across Australia.