Finance

The New South Wales government’s plan to deliver a 3 GW renewable energy zone in the state’s Central-West has been met with overwhelming investor interest and project proposals valued at $38 billion. To support the development of the REZ, the state government has quadrupled its funding support, while ARENA has allocated funding for TransGrid’s scoping study that will deliver a business case of the Central-West Orana REZ and provide a template for a national approach.

The Minerals Council of Australia has released its long-awaited Climate Action Plan. The plan has been widely criticised for its empty posturing and at least one group of major investors are demanding the Council articulate some of its conspicuously vague plans.

An Australian government-backed trial of peer-to-peer (P2P) solar trading has demonstrated the potential of localized two-sided energy markets and blockchain technology to improve the energy system. However, current electricity tariff structures would need to be modified to realize the full stack of values that this technology has to offer.

The European Commission has sent the European Green Deal on its way and a preliminary version of its anticipated hydrogen strategy has been leaked. The plan does not lack ambition, as the EU seeks to assert tech leadership in green hydrogen through coordinated efforts across the value chain.

The Essential Services Commission of South Australia has given the tick of approval for the Tesla big battery to vary its electricity generation license in line with its increased capacity from 100 to 150 MW.

Infigen Energy has recommended an $840.6 million buyout bid from Spain’s Iberdrola to its shareholders and urged them to reject an earlier offer from Philippines-linked investment company UAC Energy.

Despite the challenges to both the manufacturing and shipment of its products during the period, JinkoSolar today reported that it shipped 3.4 GW of modules in the first quarter of 2020, bringing its revenue for the quarter just over the billion dollar mark.

A new report from Rocky Mountain Institute in the U.S. explores the need for companies to disclose information about greenhouse gas emissions throughout their supply chains, and the most effective ways to do this whilst ensuring consistency and comparability of collected data across multiple industries.

Perth-based Hazer Group has completed an $8.4 million share placement that will be used towards a project that will turn wastewater into green hydrogen and graphite using technology developed by the University of Western Australia.

Large energy consumers will be allowed into the wholesale market and paid for reducing their power usage at times of peak demand under a new rule that will be introduced next year.