The Marinus Link undersea electricity connector between Tasmania and Victoria has secured federal environmental approval a day after state and Commonwealth governments announced a positive final investment decision for the 750 MW first stage of the project.
Saudi-backed Fotowatio Renewable Ventures Australia is advancing plans to build what will be its biggest battery project in the country after reaching a final investment decision on a 500 MWh energy storage system proposed for southern Victoria.
Global electricity demand is set to rise more than 3% per year through 2026, driven by growth in Asia and greater use across industry, data centres, and transport, with renewables, gas, and nuclear meeting most of the increase, says the International Energy Agency.
Australia is one of only seven countries outside the European Union that has updated its 2030 national renewable target with an 18 GW boost, since the 2023 COP28 global tripling pledge.
One-time Nationals leader Barnaby Joyce sought to dominate the first sitting week of the current federal parliament by proposing a divisive plan to reverse Australia’s net zero emissions target.
Renewable energy developers are increasingly shifting their focus to pre-approved “progressed” solar, wind, and battery project sites that are ready for construction as Australia’s clean energy rollout continues.
Australian renewables developer North Harbour Clean Energy has secured early-stage funding for two large-scale battery energy storage projects in New South Wales.
The federal government is scaling up its support for renewables, expanding its flagship Capacity Investment Scheme in a bid to accelerate Australia’s clean energy transition.
The New South Wales government has launched a new tender seeking 500 MW of firming capacity to support the transition to renewables as its ageing coal-fired power stations are shut down.
Dutch pension fund giant APG Asset Management has committed more than $1 billion to expand the renewable energy platform of developer Octopus Australia.
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