Legal

Infigen Energy on Tuesday recommended a revised offer from Iberdrola to its shareholders, after the Spanish renewable energy giant waived conditions of its takeover bid.

In a bid to encourage competition, the Morrison Government has announced its formal application of the Consumer Data Right regime to the energy sector. It is a move supported by the Australian Energy Council and Energy Consumers Australia but how much power can the consumer expect in the Big Data revolution?

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.

The Düsseldorf Regional Court has agreed Chinese rivals of the Korean manufacturer illegally used its patented passivation technology. The judges granted Hanwha Q-Cells an injunction which requires Jinko, REC and Longi to retrieve all modules featuring the patented technology distributed in Germany since late January last year. Hanwha can also opt to have the offending products destroyed.

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.

In its formal bidder’s statement, Philipines UAC Energy has urged Infigen shareholders to accept its takeover bid of $0.80 a share, while Infigen remained adamant no action should be taken in relation to the “opportunistic” offer. Previously, the acquisition of another prominent renewables developer, Windlab, was greenlit in a landslide shareholder vote.

The Australian Competition Tribunal is currently hearing arguments on a proposed code that would apply to the ‘buy now pay later’ sales practices of solar panel and installations. It is being argued that the practices are a form of predatory lending.

The Chinese manufacturer this morning said the International Trade Commission had agreed with the initial determination issued by an administrative law judge in April, that Jinko and peers Longi Solar and REC Group had not infringed its solar cell passivation technology.

UAC Energy Holdings, a joint venture of Ayala’s AC Energy and Hong Kong-based UPC Renewables Group, said it would offer $777 million to buy Infigen Energy, one of Australia’s most prominent renewables companies.

The new legislation will clear the way for a new carbon and capture storage project in Victoria and create new jobs and opportunities for coal in the region, undermining the efforts to create a green hydrogen economy in Australia.