Markets

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.

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.