Markets

The federal government is increasing its investment in green hydrogen and low-emissions steel with $50 million in research and development funding to help progress the technologies as a new report warns that Australia must act quickly or risk being left behind in the race to become a renewable energy superpower.

TrendForce has ranked the top six module manufacturers by shipment volume in 2022, with Longi topping the list, followed by Trina Solar and JinkoSolar. JA Solar, Canadian Solar, and Risen Energy rounded out the top six, in a year dominated by large-format modules.

South Australian technology company EntX has been granted a license to explore salt deposits along the western side of the Eyre Peninsula in South Australia for the purpose of hydrogen storage.

Canadian-headquartered clean energy firm Amp Energy has secured the rights to develop a green hydrogen project with up to 5 GW of electrolyser capacity on the Eyre Peninsula in South Australia. Amp has signed an agreement with iron ore miner Iron Road which owns the coastal site, including the Cape Hardy Port Precinct.

Tesla has revealed plans to build a new Megapack battery factory in Shanghai, according to the Xinhua news agency.

Australia federal Labor government has approved 11 new renewable energy and transmission projects in since the election in May 2022. There are currently another 95 renewable projects under assessment.

Seeking to commercialise hydrogen technology developed by the University of Western Australia, Perth-based Hazer Group has entered into a somewhat vague agreement with Japan’s Chubu Electric Power Company and engineering firm Chiyoda Corporation.

Australian renewable developer GMR Energy, formerly Maoneng, has started work on its 240 MW / 480 MWh battery project on Victoria’s Mornington Peninsula. The company has entered into an early works agreement with network AusNet, and is aiming to complete the $330 million (USD 220 million) by 2024, two years after the company had originally forecast.

The structured bidding trajectory of India’s tenders will provide sufficient time for renewables developers to plan their finances, develop business plans, and manage the supply chain more efficiently, says Indian Power Minister R.K. Singh.

India could become the world’s second-largest solar manufacturer by 2026. It will also have a notable presence in all upstream components of PV production, such as cells, ingots/wafers, and polysilicon, according to a new report.