Finance

India’s Union Budget, presented this week by Finance Minister Nirmala Sitharaman, allocates an extra INR 19,500 crore ($3.6 billion) to the production-linked incentive scheme for solar from April.

Shell has completed its acquisition of green power company Powershop Australia. The takeover sparked heated outcry when it was first announced in November 2021, reportedly causing Powershop to bleed customers who felt angered and betrayed by the apparent ‘greenwashing’.

Western Australian ocean energy company Bombora Wave Power has received an investment of $6.74 million to deliver its pilot projects and commercialise its technology from one of the world’s largest shipping companies, Japan’s Mitsui O.S.K. Lines.

Victorian network utility AusNet Services appears certain to be entirely foreign owned after shareholders overwhelmingly approved the sale of the company to a consortium led by Canadian asset management group Brookfield.

LG Chem’s energy storage and battery division’s US$10.7 billion (AU$14.8 billion) initial public offering received a staggering response from institutional investors, Reuters has reported.

The Queensland government has highlighted its state attracted as much as $26 billion worth of “new energy economy projects”, according to new national resources reports. The federal government, on the other hand, used the reports to pay tribute almost exclusively to coal, with resources minister Keith Pitt dubbing it a “star”.

Australian green energy company Port Anthony Renewables’ oversubscribed capital raising exercise has put a fresh $3 million directly into its commercial scale hydrogen precinct ahead of a planned Australian Securities Exchange (ASX) listing next year. Meanwhile, Longi reportedly plans to build 1.5 GW of production capacity of electrolysers next year, up from 500 MW today.

The transaction, for which Shell did not reveal the purchase price, will see the energy company pick up a U.S. project development pipeline which reportedly runs to more than 18 GW of solar generation and energy storage capacity across 26 states.

The hype surrounding green hydrogen is real, but does the cost-reduction outlook for its production technologies live up to it? Christian Roselund looks at the technology, transportation, application and enabling policies behind the promising green energy carrier.

The Victorian government has today announced it will put $5 million towards installing fast-charging stations across the state and $3 million in new charging infrastructure grants for local council and business fleets. The government also simplified access to its $3,000 electric vehicle subsidy, saying the program has led to a 200% sales increase in the last six months.