Bowen targets 32 GW of renewables with ‘super charged’ investment scheme
Australian Energy Minister Chris Bowen has announced a major expansion of the Commonwealth-funded Capacity Investment Scheme that will now target 32 GW of renewable generation and storage capacity to support the nation’s clean energy transition.
Superfund commits $1 billion to developer involved in green data centres
Superannuation fund Rest has announced it will invest $1 billion (655 million) into Australian-owned renewable energy investor and developer, Quinbrook Infrastructure Partners. The fund has a particular eye to green data storage centres.
Winners of nation’s largest storage tender include two ex-coal plant big batteries, VPP series
More than 1 GW of firmed storage capacity is set to be delivered by the six winning projects from the New South Wales (NSW) tender combining state and federal schemes. Akaysha Energy’s 415 MW / 1660 MWh battery in Wellington and AGL’s 500 MW / 1000 MWh Liddell battery are the round’s two biggest projects.
Fortescue brings three projects to FID committing $1.1 billion
Fortescue has announced three projects – two in Australia and the other in the US – have reached final investment decision (FID). The company held its annual general meeting today, where members voted down its contentious executive pay policy.
China module prices hit new record lows, operating rates estimated around 60%
In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry.
Fortescue continues US expansion with new clean energy manufacturing plant
Australian mining and green energy major Fortescue has revealed plans to establish a new clean energy technology manufacturing plant in the United States as it looks to take advantage of America’s $565 billion (USD 369 billion) Inflation Reduction Act.
Macquarie targets 4 GW of solar, wind and batteries with new energy business
The green investments arm of global financial services group Macquarie Asset Management has launched a new specialist renewable energy business targeting an initial pipeline of 4 GW of wind, solar and battery energy storage projects across Australia.
WA commits $708 million to future-proof state’s main grid
The Western Australian government will invest more than $700 million (USD 455 million) to deliver the step change in electricity transmission infrastructure needed to unlock renewable energy generation opportunities that will support the state’s energy transformation.
Weekend read: the overproduction conundrum
Manufacturing capacity has been ramping up so quickly that even impressive installation growth cannot keep pace. Molly Morgan, senior research analyst at UK-based research firm Exawatt, explores the relationship between PV supply and demand and assesses the likelihood of overproduction.
Tesla to take on incumbents in Australia’s retail market
Electric vehicle and battery energy storage manufacturing giant Tesla is aiming to “disrupt the traditional incumbents” in Australia’s electricity retail sector with its application for an electricity retailer licence having been accepted by the market regulator.
