Markets

Queensland-based investment platform Clean Energy Transfer Fund intends to circumvent lengthy lead times and major capital outlays associated with grid-scale renewables projects by deploying hundreds of sub 5 MW energy storage units throughout Australia to create coordinated battery ‘hives’ of up to 200 MWh each.

Australia’s shift to zero-emissions vehicles is accelerating with a new report revealing that electric vehicles sales more doubled in the first half of 2023 with battery-powered vehicles accounting for more than 8% of all new car sales.

With its critical-mineral riches, Australia is seeking to process and manufacture materials to capture more of the energy transition value chain. While logical, the path is already proving onerous and is hampered by the nation’s apparent allergy to boldness.

Solar generation in Australia’s main electricity grid has surged to record highs with the latest data from the Australian Energy Market Operator revealing that rooftop solar generation increased 30% in the second quarter of 2023 while grid-scale solar output rose by 37%.

Gas major Atco has ditched its plans for a commercial-scale green hydrogen manufacturing facility proposed for Western Australia’s remote midwest, saying the distance between the production facility and end use undermined the commercial viability of the project.

Renewable energy developer Neoen will scale up the installed capacity of the Western Downs Battery being built in Queensland to 270 MW/540 MWh as it looks to keep pace with rising demand for energy storage and realise opportunities across Australia’s evolving energy system.

Australian natural hydrogen explorer Gold Hydrogen plans to start drilling on South Australia’s Yorke Peninsula later this year after early testing at its maiden Ramsay project site detected the presence of naturally occurring hydrogen in soil samples.

The Australian government has committed $50 million to support the development and diversification of clean energy supply chains in the Indo-Pacific as it seeks to increase manufacturing opportunities and enhance energy security in the region.

Construction of Australia’s largest electricity transmission project continues to roll on with network operator ElectraNet announcing it has achieved more than 70% completion of the South Australian component of the 900-kilometre EnergyConnect project that will link power grids across three states.

Rystad Energy says that about €7 billion ($7.8 billion) of solar panels are now being stored in Europe, but European developers continued to buy solar modules from China throughout the first half of this year.