Finance

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.

The Paris-based body expects the world will have installed almost 160 GW of solar this year, a record number, but still not enough to keep the prospect of a net zero global economy by mid century in sight.

The Chinese manufacturer appears to have shouldered higher input costs in return for carving out a larger slice of the world’s biggest solar market – although it’s not clear from the company’s third-quarter update that CEO Xiande Li received the memo.

Melbourne-based company Green Peak Energy has attracted the backing of one of the world’s largest investment firms, CBRE Investment Management. While deal’s details remain confidential, the Australian company, which focuses on operating renewable systems in the C&I segment and providing power purchasing agreements (PPAs), described the agreement as an endorsement of the problem it set out to solve.

A new Ernst & Young power and utilities overview report shows that utilities and other deep-pocketed investors are putting financial support behind their environmental, social and governance initiatives.

Spark Infrastructure looks set to be sold off with the Foreign Investment Review Board giving its tick of approval for a North American consortium led by private equity giant Kohlberg Kravis Roberts to acquire the Australian electricity network operator.

Brisbane’s eleXsys Energy has won a government grant which will allow the company behind Australia’s largest grid-connected microgrid to build its manufacturing base here in Australia.

International oil giant Shell is set to acquire Australian energy retailer Powershop after partnering with Sydney-headquartered investment manager Infrastructure Capital Group in a $729 million deal which will see the consortium purchase all of Meridian Energy’s Australian assets.

The owner of the 100 MW Merredin Solar Farm in Western Australia has confirmed it will look to accelerate its roll out of renewable energy projects in the Asia-Pacific region after raising more than $34 million in Series A financing.

Greek company Mytilineos has reached financial close on all three of its 40 MWp solar farms in New South Wales, marking an important milestone in the company’s strategic move into the Australian market.