Finance

From today, the City of Sydney will run entirely on renewable energy generated from wind and solar farms in regional NSW.

Infigen Energy on Tuesday recommended a revised offer from Iberdrola to its shareholders, after the Spanish renewable energy giant waived conditions of its takeover bid.

While investor appetite for large-scale battery storage is rapidly growing, market arrangements need to be amended to streamline the integration and operation of big batteries on the National Electricity Market, finds an analysis by the Clean Energy Council.

Singapore-based commercial and industrial solar developer Cleantech Solar has secured a US$75 million in green finance from ING Bank, the Asia Pacific’s largest ever C&I solar green loan. As the world’s fastest growing electricity market, South East Asia is crying out for this kind of investment.

The government’s task is to identify and develop a suite of energy technologies that can provide low-cost, low-emissions electricity system of the future, and the Clean Energy Council says that this can be achieved by leveraging Australia’s comparative advantage and the mature industry built around solar and wind. Technologies that extend the life of higher cost, fossil fuel generation should not be prioritized for investment, the CEC says, instead, the roadmap should focus on plenty of challenges to accelerate renewable energy investment.

The New South Wales government’s plan to deliver a 3 GW renewable energy zone in the state’s Central-West has been met with overwhelming investor interest and project proposals valued at $38 billion. To support the development of the REZ, the state government has quadrupled its funding support, while ARENA has allocated funding for TransGrid’s scoping study that will deliver a business case of the Central-West Orana REZ and provide a template for a national approach.

The Minerals Council of Australia has released its long-awaited Climate Action Plan. The plan has been widely criticised for its empty posturing and at least one group of major investors are demanding the Council articulate some of its conspicuously vague plans.

An Australian government-backed trial of peer-to-peer (P2P) solar trading has demonstrated the potential of localized two-sided energy markets and blockchain technology to improve the energy system. However, current electricity tariff structures would need to be modified to realize the full stack of values that this technology has to offer.

The European Commission has sent the European Green Deal on its way and a preliminary version of its anticipated hydrogen strategy has been leaked. The plan does not lack ambition, as the EU seeks to assert tech leadership in green hydrogen through coordinated efforts across the value chain.

The Essential Services Commission of South Australia has given the tick of approval for the Tesla big battery to vary its electricity generation license in line with its increased capacity from 100 to 150 MW.