Finance

On the back of a landmark agreement with Alinta Energy, Fortescue Metals will use solar power for up to 100% of its daytime energy needs at the Chichester Hub iron ore operation in the Pilbara region.

The Chinese solar manufacturer today admitted it is in talks with its lenders and strategic investors about a break up of the company after its 2018 annual accounts revealed an apparently unserviceable debt pile. Any strategic investor is likely to constitute a Chinese state-backed bail-out.

Solar infrastructure developer Lyon Group has strengthened its ties in the Asian markets through a significant joint-venture with two of Asia’s largest energy generators. The agreement will see integrated battery storage systems utilised to reduce the risk of curtailment and increase the flexibility of renewable energy plants.

Up to $20 million of grants will be awarded for microgrid feasibility studies across Australia through the first round of the Federal Government’s Regional and Remote Communities Reliability Fund. The fund aims to provide more secure, affordable and reliable power to regional communities and save “hundreds of millions of dollars” on network upgrades.

Fundraising activity for solar leaped in the July-to-September period to provide healthy quarterly and year-so-far comparisons on 2018.

The new partnership will offer Chargefox users $100 off their electricity bill while further reducing their carbon footprint.

A massive green hydrogen production project has been unveiled for Western Australia with Siemens on board as technology partner. The project location is touted as Australia’s best for combined solar and wind generation potential.

Through subsidiary, Eni Australia, the Italian oil major has completed the acquisition of two 12.5 MW construction-ready solar project in the Northern Territory.

Plans to develop an 18 GWh lithium-ion battery factory in northern Queensland have reached an important milestone with the project feasibility study submitted to the Queensland government.

Among 31 dispatchable electricity projects unveiled this week under the NSW Emerging Energy Program, utility-scale battery storage accounted for a bulk of proposals. Four big batteries have been awarded funds for pre-investment studies, and another ten have been shortlisted for capital funding.