Finance

South Australia’s small-scale solar sensation Yates Electrical Services is teaming up with Sustainable Energy Infrastructure to develop 20 MW of small-scale solar over the next 18-months, another sign of the strength of the small-scale solar surge which flies under the radar of the network’s congestion woes.

The Australian Government has finally announced new long term funding and an expanded remit for the Australian Renewable Energy Agency (ARENA) beyond 2022. The funding package, which looks more like a cut than anything else, pushes investment away from solar and wind and toward fossil fuel enabling technologies like carbon capture and storage. 

A new report from Net Zero Momentum Tracker has found that the Australian superannuation sector, which is expected to hold a majority of ASX-listed equity by 2040, is accelerating its divestment from risky greenhouse gas emitting fossil-fuels. The finding represents another disconnect between the Morrison Government’s gas fetish and investor diffidence with dying industries.

The Queensland Government has opened the registrations of interest period for its three planned and well-funded Renewable Energy Zones. The Sunshine State is calling on the renewables sector to come forward and lead Queensland’s renewable revolution.

After being ignored by the Federal Government, Queensland has announced a $500 million Renewable Energy Fund for state-owned energy corporations to invest in commercial renewable project and infrastructure, a particular complement to QLD’s three pending Renewable Energy Zones.

Solar Citizens, the Queensland Council of Social Service (QCOSS) and Queensland Conservation Council have come together to propose a $215 million initiative to the Queensland Government which would see 50 MW of solar installed across more than 50,000 social dwellings to help households save on their energy bills in these tough economic times.

The Federal Government’s Northern Australia Infrastructure Facility is backing Melbourne-based investment firm Merricks Capital to the tune of $37 million for the construction of a 10 MW solar farm and a 12 MW gas power plant south of Darwin. The twin projects are set to be the first privately owned and operated energy projects in the Territory.

Energy and Emissions Reduction Minister Angus Taylor is set to expand the remit of the Clean Energy Finance Corporation to allow it to invest in gas generation. The move, which is so counter-productive that it resembles sabotage, has sparked waves of disapproval from around the nation, led by the Clean Energy Council.

The UK developer has completed the sale of the 162MWac (203MWdc) Columboola Solar Farm in Queensland’s Western Downs, having recently signed a power purchase agreement with state government-owned utility CS Energy.

In light of the recent events that have caused the polysilicon price to skyrocket, solar developers in Australia are being warned about module supply constraints and price volatility over the coming quarter.