Markets

As rising renewables penetration and electrification place ever more strain on the world’s grids, the use of grid-forming inverters, rather than grid-following models, will play a vital role in network stability.

The rollout of large-scale solar in New Zealand continues to gather pace with renewables developer FRV Australia and joint venture partner Genesis Energy announcing that construction proper has commenced on a 47 MW solar farm at Lauriston on the country’s South Island.

A new report published by the Australian Energy Market Operator (AEMO) shows the nation’s clean energy transition is gathering pace with renewables, including large-scale and rooftop solar, accounting for almost 40% of the country’s electricity generation in the first three months of the year.

The renewable energy arm of Australian construction and engineering group Cimic says it has received connection approval for the 250 MW Hopeland Solar Farm being developed in Queensland’s Western Downs region.

Renewable energy advocates and investors have urged the federal government to pursue its commitment to the ambitious Future Made in Australia Act by backing it – and the country’s decarbonisation – with strategic budget support.

As the Australian authorities launch rolling tenders for 32 GW of renewables and storage by 2030, it has become clear that some communities have not been brought onside. Heated debate on social media and a frenzy stoked by concerns about the impact on the natural environment are throwing up hurdles for renewables development.

New Zealand battery technology company ArcActive is planning to establish a manufacturing plant in Australia within 18 months that will be capable of producing 30,000 lead acid-based residential energy storage systems per year.

Australian renewable energy businesses and technology manufacturers are in the box seat to play a pivotal role in the Asia Pacific region’s green economy transition but they have been urged to build their understanding of the market landscape so they are equipped to seize the opportunities on offer.

Two major critical minerals projects in Queensland and South Australia are to receive hundreds of millions of dollars in federal government loans as the Commonwealth seeks to deliver the building blocks for a ‘future made in Australia.’

Applications for the first West Australian tender under the Commonwealth government’s recently expanded Capacity Investment Scheme will open mid-year with an initial target of 2 GWh of renewable energy storage projects.