Markets

Newly appointed CEO of Fortescue Future Industries Mark Hutchinson has made it clear that demand for green hydrogen has already far outstripped the company’s upcoming 2 GW electrolyser factory in Gladstone, Queensland. The announcement of new investments in green hydrogen plants from Fortescue Future Industries is now expected in the near future.

New South Wales is seeking 2,500 GWh of annual generation and 600 MW of long-duration storage for its first tender, part of realising its ambitious NSW Electricity Infrastructure Roadmap.

Brisbane-based bioenergy company LGI Limited has listed on the ASX, seeking to raise $25 million for expansions, including fitting sites with batteries capable of playing on spot markets. For the company’s founder, Adam Bloomer, the role of bioenergy in Australia only makes real sense when limited to waste. “If it’s is not a waste stream, I think you’re barking up the wrong tree,” he tells pv magazine Australia.

BMW Group said it is targeting the premium segment with its iX5 Hydrogen car, Topsoe revealed that it will invest US$267 million (AU$392m) to build the world’s largest SOEC electrolyzer plant in Denmark, and Bosch announced plans to invest US$200 million (AU$292m) in US fuel cell production.

Spanish power and gas provider Naturgy has acquired its first PV project in Australia – the Cunderdin hybrid solar + storage project east of Perth in WA. The project is set to be the country’s largest DC-coupled project to date.

Clean Energy Associates says solar wafer pricing will fall by 23% by the end of 2023, while BloombergNEF sees 500 GW of manufacturing capacity online by the end of next year.

The Australian Energy Market Operator warns every Australian jurisdiction in the national grid could see electricity demand outstripping supply within the decade – though only if anticipated renewable projects do not come to fruition.

Reliance Industries says that production will begin at its 10 GW factory for solar cells and modules by 2024. It plans to double the facility’s capacity to 20 GW by 2026 and is aiming for 50 GWh of annual cell-to-pack battery capacity by 2027.

Germany has launched the world’s first operational hydrogen trains and US researchers have presented a novel design for a tubular PEM fuel cell. ABB and Hydrogen Optimized, meanwhile, have expanded their strategic ties and Slovakia has moved forward with a major gas-blending pilot project.

Average polysilicon prices hit CNY 312 (AU$65.8)/kg this week, according to an industry association in China. The nation’s Ministry of Industry and Information Technology, the State Administration for Market Regulation, and the National Energy Administration have also asked regional authorities to take action to deal with the price increase.