Finance

Residents of Stockland homes will be able to get a discount on their rooftop solar and batteries thanks to a new national scheme recently launched by the property developer.

Adelaide-based energy storage specialist 1414 Degrees has announced plans to acquire SolarReserve Australia II, which owns the Aurora Solar Energy Project in South Australia and two solar sites in New South Wales. The company proposes to use the Aurora site to build a massive 400 MW solar farm with progressive thermal storage capacity to several thousand MWh.

Evergen is looking to boost its growth in Australia and expand overseas as it opens a major capital raising campaign to private and wholesale investors on VentureCrowd.

The Kidston solar-pumped hydro project is back on its feet after Japanese utility J-Power and Genex Power renegotiated their deal with the extension of funding provided by the Northern Australia Infrastructure Facility Board earlier this month. The project had been thrown off-course after a shock decision by EnergyAustralia not to finalise a purchase agreement.

A group of Melbourne’s prominent universities and businesses are combining their purchasing power to source their electricity from a large scale renewable energy project in Victoria.

Under the Electricity Strategy released on Friday, the NSW Government has unveiled a plan to deliver Australia’s first coordinated Renewable Energy Zone in the Central-West, seeking to support the new generation needed to get energy bills down. The administration has also pledged to give NSW one of the world’s highest reliability targets to cope with the changing electricity mix and unexpected generator outages.

In late September, Western Australia’s government-owned electric utility registered an approximate AUD 657 million ($442.8 million) loss – much of it attributed to asset and contract writedowns. However, the utility was quick to blame rooftop PV for eating into its revenues, while fixed costs remained unchanged or increased. Revenues for the utility were down 4.7% for the year, to AUD 2.8 billion.

Ernst & Young Australia (EY) are calling for a significant capital injection into the Australian Energy Market Operator (AEMO) at this week’s COAG Energy Council meeting. EY wants to expand AEMO’s powers toward fixing the nation’s embattled energy grid.

The renewables investment arm of Octopus Group is seeking to raise up to £250 million ($475 million) through a major initial public offering for investment in onshore wind and solar assets in Europe and Australia. It aims to invest in already operating, in construction and construction-ready assets.

The Sydney-based developer has received credit approval to fund two of its solar projects. The announcement comes only days after Genex resumed trading on the Australian stock exchange in the wake of the Northern Australian Infrastructure Fund’s decision to extend offer of funding for the 250 MW Kidston pumped storage hydro project.