Finance

Prefabricated solar array manufacturer 5B has completed a $30 million Series B capital raise with their existing shareholders to help fund continued development of the company’s flagship modular Maverick solar array and accelerate the progress of the company’s pipeline of multi megawatt projects.

Community solar developer Komo Energy is describing it as an “Australian first” after launching a crowd equity funding campaign to help finance the construction of the planned 1.7MW battery ready Grong Grong Solar Farm being developed in the Riverina region of New South Wales.

North Carolina State University (NCSU) has developed an energy-efficient strategy for room-temperature hydrogen release from liquid hydrogen carriers, which uses less rhodium. Elsewhere in the world, Airbus launched its Zero Emission Development Centre in the UK, Toshiba ESS teamed up with Fusion Fuel to target Australian and European markets, and Corfo signed agreements to finance three renewable hydrogen projects with GNL Quintero, iCAP, and Air Liquide in Chile.

Wood Mackenzie this week made a slew of predictions for the industry in 2022 and noted the effects the US’ recently announced anti-circumvention investigation is already having on utility scale plans.

The remarkable results of what is already being called a ‘historic’ 2022 Federal Election have put Australia “back on the map” in the eyes of big low-carbon investors.

Having warned of in-house solar wafer and cell capacity as recently as the third quarter of 2021, the company has announced it will be adding even more production lines this year.

A $150 million loan scheme introduced by the Australian Capital Territory government has sparked an uptake of rooftop solar in Canberra with more than 20MW of new solar PV rolled out across roofs in the nation’s capital.

New Zealand’s government this week unveiled its plan to cut emissions and fund the clean energy transition, featuring policies like a ‘scrap and replace’ scheme to incentivise electric vehicles and funding for electrifying industry. The NZ$2.9 billion (AU$2.6 billion) plan has received mixed reviews, with Greenpeace saying it has overlooked the country’s most glaring problem.

Tata Power Solar has secured an engineering, procurement and construction contract for a 300 MW solar project under India’s Central Public Sector Undertaking scheme. The project, awarded by state-owned hydropower producer NHPC, will be located in the Indian state of Rajasthan.

Australian renewable energy developer MPower has boosted its solar PV and energy storage portfolio, announcing it has finalised an $8 million transaction which will see it purchase the Lakeland Solar & Energy Storage Project in far north Queensland.