Markets

Economic cooperation between India and Australia may open doors for investment in clean energy technology but challenges still abound in a competitive global market. Vibhuti Garg and Shantanu Srivastava, of the Institute for Energy Economics and Financial Analysis, discuss the role that public funding and resource pooling could play in supporting manufacturing ambitions.

United Kingdon-based developer Renewable Energy Systems has expanded its presence in the Australian market with the acquisition of Windlab’s asset management portfolio, including the 60 MW Kennedy Energy Park in northern Queensland.

Tasmania and Victoria have been guaranteed a combined 1.7 GW of the 6 GW of new variable renewable energy projects the Australian government is targeting as part of what is the largest single renewables tender in the country’s history.

Victorian government-owned water authority GWMWater is branching into large-scale renewable energy generation with construction set to begin on a 6.5 MW solar array and battery energy storage system near the town of Nhill in the state’s west.

Former Australian prime minister Julia Gillard has been named chair of a multi-billion renewable energy fund that is aiming to build a 15 GW portfolio of assets including wind, solar, and battery storage over the medium term.

The federal and state governments are stepping up their investments as they seek to deliver the army of skilled workers required to build the solar and wind farms, rooftop solar, battery storage and transmission infrastructure needed to achieve Australia’s renewable energy and emissions targets.

New data from market firm SunWiz shows Australian households and businesses installed a further 262 MW of solar on their rooftops during the month of April, pushing the year-to-date total up 7% on the corresponding time last year.

The federal government’s 32 GW Capacity Investment Scheme is already bearing fruit with a competitive tender seeking 600 MW of energy storage capacity in Victoria and South Australia attracting 19,000 MW of project proposals.

Victorian electricity distributor Powercor is seeking a licence to build new transmission infrastructure in a move it claims will provide faster grid connections for major projects such as solar and wind farms within its current distribution network area.

Queensland flow battery company Redflow has won a second deal with the United States Department of Defence to supply a non-lithium energy storage solution that will be deployed to improve energy security at a major naval base in Italy.