Markets

SunCable’s flagship Australia-Asia Power Link project, the largest intercontinental renewable energy and transmission project in development in the world, is a step closer to realisation after securing the tick of approval from environmental regulators.

The Commonwealth government says it will fast track the development of a proof-of-origin scheme for hydrogen and renewable electricity to help Australian industry meet growing domestic and international demand for verified renewable energy and clean products.

The Clean Energy Council looks set to be reappointed as the product listing body responsible for maintaining and publishing lists of approved solar panels and inverters eligible for use in Australia’s solar rebate program.

French renewable energy and storage developer Neoen has announced a new milestone for its massive Collie battery energy storage system being constructed in Western Australia with the successful energisation of the 219 MW / 877 MWh first stage.

Indonesia’s new renewable energy bill will include legislation allowing power wheeling, enabling private companies to sell electricity directly to end consumers via networks owned by the state-run electricity company.

Greece-based resources and renewables company Mytilineos, now known as Metelen Energy and Metals, is looking to sell its Australian renewable energy generation and storage assets, including six operational solar farms totalling 284 MW.

Longi says it expects a net loss of CNY 4.8 billion ($980 million) for the first half of 2024, while Tongwei is bracing for a CNY 3 billion loss. Aiko Solar and TCL Zhonghuan, meanwhile, are predicting losses of CNY 2.9 billion and CNY 1.4 billion, respectively.

According to the latest forecast from Wood Mackenzie, the global energy storage market (excluding pumped hydro) is on track to reach 159 GW/358 GWh by the of 2024 and grow by more than 600% by 2033, with nearly 1 TW of new capacity expected to come online.

New Zealand generator and retailer Contact Energy has announced plans to build a 100 MW / 200 MWh battery energy storage system on the country’s North Island that will support the development of new renewables including solar generation.

The Queensland government has broken ground on the $5 billion CopperString transmission line project that is to stretch across the state’s north, connecting the region to the national grid and helping to unlock an estimated 6 GW of renewable energy resources.