Markets

Electric vehicle charging in Australia and New Zealand has been given a boost with fund manager Pacific Equity Partners acquiring a majority stake in Australian electric vehicle charging solutions provider EVSE to the tune of $250 million (USD 167 million). The partnership also involves PEP-backed smart metering specialist Intellihub.

The Capacity Investment Scheme South Australia-Victoria tender is now open for bids. Renewable energy storage projects must be located in either of the states and have a minimum storage duration of two hours and a minimum size of 30 MW.

Solar developer Lightsource bp has declared that proceeds from the sale of five utility scale PV projects in Australia with a combined capacity of more than 1 GW will be used to fast track the development of a pipeline of projects across the wider Asia Pacific region.

European Union member states have installed a “record-breaking” 56 GW of PV over the last 12 months – consistent with the past three years of 40% year-on-year growth, according to SolarPower Europe. But the association warns that solar’s moment in the sun could soon be over, as energy prices stabilise and project interest rates skyrocket.

China’s solar industry rebounded in 2023 after years of pandemic-related sluggishness. As the year draws to a close, Vincent Shaw looks back at key highlights of 2023 and considers the prospects for 2024.

Australia’s independent energy markets and power systems operator has warned urgent investment in generation, firming and transmission is needed with forecasts showing the National Electricity Market needs to almost triple its installed capacity in less than 30 years.

SMA Solar Technology AG says it will open a new 3.5 GW inverter factory at an unspecified location in the United States in 2025. The German manufacturer is currently talking with several US states and potential partners to select the best production site.

Philippines-based energy company ACEN Corporation plans to bolster its renewable energy initiatives in Australia after sealing a $75 million green term loan facility that will help fund the delivery of an 8 GW portfolio of solar, wind, battery storage and pumped hydro projects.

Australia’s largest telecommunications provider, Telstra, is a step closer to its goal of enabling renewable energy generation equivalent to 100% of its consumption by 2025 after inking a new 153 GWh solar offtake agreement with Global Power Generation.

Victorian company United Solar Group, which is developing a floating 700 MW solar and 1.5 GWh battery project at the Poonakary Lake in Kilinochchi, Sri Lanka, has had a Power Purchase Agreement approved by the Sri Lankan cabinet.