Markets

The Philippines’ Department of Energy hopes to allocate 1,260 MW of solar through the procurement exercise.

Shell has completed its acquisition of green power company Powershop Australia. The takeover sparked heated outcry when it was first announced in November 2021, reportedly causing Powershop to bleed customers who felt angered and betrayed by the apparent ‘greenwashing’.

The analyst also forecasts strong growth for the storage business and a significant increase in PPAs for photovoltaic projects in Europe. It also said the newly installed PV capacity for 2021 reached 183 GW.

South Australia has found itself at the heart of a 21st century gold rush, though this time for naturally occurring hydrogen. Since February 2021, 18 exploration licenses have been granted or applied for in the state by six different companies searching for natural hydrogen.

U.S.-based hydrogen vehicle maker Hyzon has announced Melbourne will soon be home to its Australian headquarters as part of a newly formed partnership with RACV, which will see the pair develop a purpose-built facility for Hyzon out of RACV’s Noble Park operation in the city’s south east.

On the company’s Q4 earnings call, the world-leading EV manufacturer again prioritised delivering cars over growing low-margin energy storage products, while solar products were barely noted. Both verticals grew though, solar by 68% and storage by 32%.

Lavo’s hydrogen battery technology has found monetary support from both Australian and international investors in the last year, as well as public support which has continued this week with the announcement by the New South Wales government of $5 million in funding from the Regional Job Creation Fund to boost hydrogen manufacturing jobs in the Hunter Region.

Renewables have continued their rise in Australia’s energy market with a new report published by the Australian Energy Market Operator revealing grid-scale solar, wind, hydro and rooftop solar PV provided almost one-third of the National Electricity Market’s power needs during the December quarter.

Singapore’s trillion-dollar sovereign wealth fund GIC has made a “strategic” investment in renewables developer InterContinental Energy, one of the major players behind mega solar and wind-powered green hydrogen projects planned for Western Australia’s Pilbara and southeast regions.

Hydrogen vehicle and fuel cell startup H2X has partnered with Indian automotive parts manufacturer and developer Advik Hi-Tech in a deal which will see the Australian company’s products delivered into India and the wider international market.