Markets

Australia has firmly established its status as a global leader in residential solar deployment with 35% of all houses having already installed rooftop systems but new data reveals there is almost 50 GW of “untapped PV potential” on residential buildings across the country.

The company behind the 250 MW / 2 GWh Kidston pumped hydro project being developed in north Queensland has given the tick of approval to a $381 million takeover bid from Japanese energy giant J-Power.

Australia’s largest energy retailer Origin Energy Limited (Origin) has entered into an agreement with Belgian company Virya Energy to acquire the Yanco Delta renewables project that comprises an 800 MWh battery energy storage system coupled with a 1.5 GW wind farm in southern New South Wales.

Australian-owned renewable energy investor and developer Quinbrook Infrastructure has announced financial close and the start of construction on a 250 MW / 500 MWh battery energy storage system that will form the first stage of a $2.5 billion renewables-powered data storage precinct in Queensland.

The federal government has unveiled plans for a Future Made in Australia Act, proposing taxpayer-funded incentives to advance renewable energy industries, manufacturing, and infrastructure to stake Australia’s place in the global clean energy race.

The head of one of Australia’s largest energy generators, retailers and developers has pointed to rising costs and uncertainty about recovering those costs as the cause of a drop in investment for large-scale renewables that threatens Australia’s clean energy goals.

Australian iron ore and renewables giant Fortescue Energy has signed a joint venture with Moroccan phosphate mining company OCP Group to supply green hydrogen, ammonia, and fertilisers to Morocco, Europe and international markets.

Australia’s energy sector is undergoing a notable shift with new data from market analyst Sunwiz showing a record surge in utility-scale battery energy storage projects over 10 MWh in 2023 while residential and commercial installations also reached new highs.

With renewable energy capacity in Australia expected to at least double over the next six years, the search for land to host solar, wind and energy storage developments is offering a new income stream for interested landowners.

Three sleeping solar farm beauties in the Top End may receive the kiss of life with Northern Territory Chief Minister Eva Lawler indicating the government could buy them from their owner, but questions remain about grid stability.