Markets

Macquarie owned Green Investment Group’s Renewable Energy Fund 2 has far exceeded its own expectations by raising over AUD$2.5 billion in investment commitments for large-scale solar and wind projects all over the world, including Australia.

The University of New South Wales along with several other universities and the CSIRO are embarking on a feasibility study into how New South Wales can utilise excess renewable energy to make fuel, chemicals and feedstocks for industry. The aim is to develop a plan for how fuels and chemicals such as green hydrogen and ammonia produced from renewables can decarbonise industry and grow manufacturing.

At present, China accounts for almost 75% of global lithium-ion battery manufacturing capacity and this share is set to increase through the short term with its build-out of new facilities. And although the US and Europe are enacting policies to encourage domestic battery production, there has been a distinct lack of support for investment in the supply and refining of the raw materials to achieve this. In China, the opposite holds true. 

Australian engineer Daniel Westerman has been chosen to head the Australian Energy Market Operator (AEMO) as the nation continues to navigate a rapid transformation of the generation mix.

The tide of clean energy facilities planned under the city’s next five-year strategy was revealed by Hong Kong-listed polysilicon maker Xinte Energy, which has signed a framework agreement to construct 200,000 tons of manufacturing capacity near Inner Mongolia’s largest city.

Chinese inverter maker Sungrow has switched on a 6 MW / 21 MWh solar-plus-storage facility on the island. The FIT project’s connected AC capacity is limited to only 845 kW, but the containerised storage solution provided by the company ensures its viability.

The incremental improvements achieved each year in solar are usually relatively small, and improvements to one component can easily be accommodated by the rest of the system. But every so often, a bigger change comes along, with implications that will ripple up and down the supply chain.

CEP.Energy has joined the race that stores the nation, the race, that is, for big battery supremacy. Joining giants like AGL, Origin Energy and Neoen, CEP.Energy has announced plans for a 1.2 GW megabattery in the Hunter region of New South Wales. The battery is one of four in a 2 GW battery storage portfolio planned throughout Australia.

Wood Mackenzie has called on policymakers to revise the Renewable Energy Target with more ambitious goals and, concordantly, large-scale investment in grid flexibility to ensure new renewables can join the grid. If we don’t act in this pivotal moment, WoodMac believes we will be left holding stranded assets.

Australia’s largest energy retailer, AGL Energy, has revealed a stunning $2.69 billion write-down to its asset value with plunging power prices taking a toll on its renewable energy operations.