Legal

Following a sod-turning ceremony that took place without much fanfare in south-east Queensland two weeks ago, Sunshine Energy Australia CEO Anthony John Youssef provides some detail on a 1.5 GW solar PV and 500 MWh energy storage project. While light on details about the financing structure, Youssef sets out the proposed construction timeline that, he hopes, will not be thwarted by two appeals lodged against the development.

U.S.-based hedge fund Magnetar Capital, a 25% investor in a Lyon subsidiary, is seeking to wind up the group’s solar and storage unit, in a case before the Supreme Court of New South Wales. Lyon is looking for ways to buy out Magnetar’s share.

The California Building Standards Commission has approved the requirement that new homes integrate rooftop solar. This is expected to not only give a major boost to the state’s solar market, but to drive down costs.

Last December, the company’s CEO made a proposed transaction offer to acquire Canadian Solar. Mulling the offer, a special committee has now advised the company’s board to cease its review of the proposal, highlighting that it could not find sufficient certainty in the CEO’s ability to secure the funding for the transaction. Following the news today the CEO has withdrawn his offer.

Despite political hurdles in key markets including China, India and Japan, Asia-Pacific remains highly active. This year, 59 GW of solar is expected to be installed and due to further system price declines, a phase-out of subsidy schemes can be offset.

A snapshot of how politicians, scientists, institutions, industry, and civil servants have reacted to the Intergovernmental Panel on Climate Change (IPCC) report, released yesterday.

With all eyes on the ACT cabinet, which remains unconvinced of the National Energy Guarantee as a complete policy solution beyond 2020, a new analysis of energy prices shows that ACT household power bills continue to rise. Solar owners, however, are largely insulated from bill shock.

On the back of its large-scale renewable boom, Australia has seen a drop in wholesale electricity prices and a downward emissions trajectory. So, the questions arises: what extra value can the hotly-contested National Energy Guarantee create for Australia’s electricity market beyond 2020? The Energy Security Board has had its final say on the issue.

The Western Australia government has signaled scrapping or winding back subsidies for rooftop solar, while looking for ways to boost battery uptake.

According to the latest statistics from the Clean Energy Council (CEC), there are 42 wind and solar projects totaling 6239 MW worth close to $10 billion currently in construction or due to start soon across Australia. The unprecedented large-scale renewables activity is, however, surrounded by growing uncertainty over future policy and regulatory change.