Markets

Akaysha Energy has secured $250 million in new financing that will accelerate the development of two large-scale battery projects in Queensland set to add a combined 710 MWh of energy storage capacity to the National Electricity Market.

Australia’s corporate watchdog has filed a lawsuit against Sydney-based Magnis Energy Technologies and its executive chairman for allegedly failing to disclose details about the “true situation” at the lithium-ion battery company’s United States manufacturing facility.

The Australian Energy Market Commission has released a stakeholder driven consultation paper proposing a hybrid model to reform transmission access, aiming to minimise negative impacts on solar and other renewable investments being cannibalised by congestion.

The International Energy Agency has issued its first report on the importance of battery energy storage technology in the energy transition. It has found that tripling renewable energy capacity by 2030 would require 1,500 GW of battery storage.

As rising renewables penetration and electrification place ever more strain on the world’s grids, the use of grid-forming inverters, rather than grid-following models, will play a vital role in network stability.

The rollout of large-scale solar in New Zealand continues to gather pace with renewables developer FRV Australia and joint venture partner Genesis Energy announcing that construction proper has commenced on a 47 MW solar farm at Lauriston on the country’s South Island.

A new report published by the Australian Energy Market Operator (AEMO) shows the nation’s clean energy transition is gathering pace with renewables, including large-scale and rooftop solar, accounting for almost 40% of the country’s electricity generation in the first three months of the year.

The renewable energy arm of Australian construction and engineering group Cimic says it has received connection approval for the 250 MW Hopeland Solar Farm being developed in Queensland’s Western Downs region.

Renewable energy advocates and investors have urged the federal government to pursue its commitment to the ambitious Future Made in Australia Act by backing it – and the country’s decarbonisation – with strategic budget support.

As the Australian authorities launch rolling tenders for 32 GW of renewables and storage by 2030, it has become clear that some communities have not been brought onside. Heated debate on social media and a frenzy stoked by concerns about the impact on the natural environment are throwing up hurdles for renewables development.