Markets

The Clean Energy Finance Corporation has made its first investment via the Australian government’s $20 billion (USD 12.67 billion) Rewiring the Nation Fund, committing $100 million to support the build-out of renewable generation, long-duration storage and grid infrastructure in New South Wales.

Through the first nine months of 2023, $45.56 billion (USD 28.9 billion) of venture capital, public market, and debt financing was injected into solar, says a report from Mercom Capital Group.

Queensland state-owned CleanCo has opened an expression of interest process to add 3 GW of wind and solar generation to its portfolio “to support our customers to achieve their sustainability goals, and to advance Queensland’s energy transformation”.

A green hydrogen collective that includes Australia’s Fortescue is set to share in more than $11 billion (USD 7 billion) of United States government funding as the Biden administration seeks to accelerate the commercial-scale production and deployment of low-cost, renewable hydrogen.

Solar panel producer Maxeon Solar Technologies will lay off 750 employees by the end of the year as the company reels from reduced shipments from its largest distributed generation (DG) customer in North America and an ‘industry-wide demand slowdown’ in global DG markets.

Australia’s vast distances make the supply of electricity via traditional grids expensive and even dangerous. With demand growing for agricultural goods produced with low-carbon emissions, solar and energy storage is being embraced even by skeptical farmers.

Off the back of recent legislative changes leading to ‘spurred’ solar PV development, combined with an extremely liberal market, a senior solar analyst from cleantech advisory company Apricum told pv magazine that the Philippines is ‘the place’ to rollout solar projects in Southeast Asia.

The Western Australian government has studied the business case for developing new electrolyser manufacturing facilities in the state, finding a 2 GW manufacturing facility could inject $200 million (USD 128 million) per annum to the local economy.

Melbourne-based company JET Charge has today launched its ‘Charging as a Service’ initiative, a subsidised and subscription-based electric vehicle charging solution for commercial fleets supported by ARENA.

Panasonic and Reclaim Energy have partnered to launch a heat pump hot water system to the Australian market, claiming it is up to five times more efficient than gas or traditional electric heating.