Future NEM reliability forecast to flounder without investment increase
AEMO forecasts potential reliability gaps as early as 2026-27 in South Australia and 2027-28 in New South Wales, based on current committed and anticipated projects, but new investment would narrow the risks.
NZ government funding to support solar farm builds
The New Zealand government will provide a local council with more than $14 million in funding to help build a 2 MW solar farm and 4 MWh battery energy storage system to reduce the community’s current reliance on diesel generators for power.
Indonesia’s Pertamina secures stake in Citicore Renewables
Indonesian state-owned energy company Pertamina New & Renewable Energy has acquired a 20% stake in Philippine solar developer Citicore Renewable Energy Corp. for about $186 million, with both companies planning joint investments in solar and other renewable projects in Indonesia.
CleanPeak completes $465 million refinancing deal
Australian renewable energy infrastructure developer and operator CleanPeak Energy has closed a $465 million portfolio debt refinancing deal enabling it to move forward on several projects expected to achieve financial close in the next 12 months.
WA Budget measures designed to bolster local battery manufacturing
The Western Australian government has committed $50 million to scale up the local battery manufacturing industry to take advantage of an expected surge in demand for household energy storage systems.
Two utility-scale solar projects reach $130 million financial close
European Energy has successfully reached financial close on a long-term portfolio financing package over $130 million to support the development and construction of two utility-scale solar projects based in Victoria and New South Wales.
Three months shaved off Capacity Investment Scheme tender wait times
The federal Minister for Climate Change and Energy Chris Bowen has announced the time taken to finalise tenders for the Capacity Investment Scheme will be reduced from nine months to six by cutting the two stage process to one.
Metlen refinances 420 MW Australian solar portfolio
Greek renewables and resources company Metelen Energy and Metals has refinanced a portfolio of seven solar farms spread across New South Wales and Queensland in a $460 million deal.
Australian rooftop solar sharing pioneer eyes European expansion
Australian rooftop solar sharing technology developer Allume Energy has closed a $10.4 million investment round, the proceeds of which will be used to accelerate the company’s international expansion into the United Kingdom and European markets.
Fluence secures state backing to grow Australian operation
United States-based energy storage tech giant Fluence Energy has announced an expansion of its Australian headquarters in Melbourne after locking in a “tailored investment” provided by the Victorian government.
