Markets

China’s deputy head of the National Development and Reform Commission is reported to have recently met with Andrew Forrest, founder and executive chairman of Fortescue.

With less than 60 days remaining until the next raft of clean energy incentives outlined in the United States’ Inflation Reduction Act take effect, former Reserve Bank of Australia deputy governor Guy Debelle has warned the legislation poses a “material threat” to Australia’s push to become a green hydrogen superpower.

The government of the Philippines is set to hold the country’s second renewables auction on June 19.

Cambodia’s Ministry of Mines and Energy has published a document outlining principles to permit the use of rooftop PV. The new policy replaces a monthly capacity fee for rooftop systems, with a tariff calculated based on an intricate formula.

The Brookfield consortium looking to acquire Origin Energy has lodged its merger application with the ACCC, arguing the takeover is in the national interest since it will accelerate Australia’s decarbonisation. The application also flags investment figures as high as $30 billion (USD 20 billion), up from the $20 billion previously flagged.

Analysis conducted by Cornwall Insight Australia reveals that certain coal plants in New South Wales may benefit from delaying their retirement, following the release of new plans for the VNI West transmission project.

The International Energy Agency (IEA) said in a new report that solar will remain the main source of global renewable capacity expansion in 2023, accounting for 286 GW. In 2024, the figure is set to grow to almost 310 GW, driven by lower module prices, greater uptake of distributed PV systems, and a policy push for large-scale deployment.

Queensland has laid out an ambitious vision for the state’s energy future, releasing draft legislation that calls for an additional 22 GW of new wind and solar projects by 2035, supported by at least 12 GW of storage, firming and dispatchable technologies including grid-scale batteries and pumped hydro storage.

New entrants to solar equipment procurement may be surprised to encounter constantly amended contract terms, index-linked price rises, and near-worthless defect warranties, but they reflect recent supply chain troubles. Clean Energy Associates’ Martin Deak offers a buyers guide.

Large-scale and rooftop solar installations are expected to contribute a record 286 GW of new generation capacity this year with renewable energy on course to shatter global deployment records in 2023.