Markets & Policy

Australian solar and storage technology firm RayGen has secured more than $51 million in new funding to accelerate the commercialisation and deployment of its concentrated PV and thermal hydro long-duration energy storage technology.

Australia’s “largest-ever” tender for renewable energy will open next month with the federal government targeting 6 GW of new solar and wind projects as part of its expanded Capacity Investment Scheme that is seeking 32 GW of additional capacity to support the nation’s clean energy transition.

Embattled Australian electric vehicle fast-charger company Tritium is on the lookout for buyers after its directors declared the company to be insolvent and called in administrators.

Renewable energy advocates and investors have urged the federal government to pursue its commitment to the ambitious Future Made in Australia Act by backing it – and the country’s decarbonisation – with strategic budget support.

As the Australian authorities launch rolling tenders for 32 GW of renewables and storage by 2030, it has become clear that some communities have not been brought onside. Heated debate on social media and a frenzy stoked by concerns about the impact on the natural environment are throwing up hurdles for renewables development.

The Queensland government has entrenched the transformation of the state’s energy grid by passing laws locking in 80% renewable energy generation by 2035, a move it expects will create more than 100,000 new jobs in manufacturing, renewable energy generation, power transmission and industries of the future.

New Zealand battery technology company ArcActive is planning to establish a manufacturing plant in Australia within 18 months that will be capable of producing 30,000 lead acid-based residential energy storage systems per year.

New South Wales-based clean energy company MGA Thermal has raised $5.7 million to prove the scale and industrial capabilities of its thermal energy storage technology that stores heat in blocks made largely from aluminium and graphite and dispatches it to generate electricity.

Australian renewable energy businesses and technology manufacturers are in the box seat to play a pivotal role in the Asia Pacific region’s green economy transition but they have been urged to build their understanding of the market landscape so they are equipped to seize the opportunities on offer.

Two major critical minerals projects in Queensland and South Australia are to receive hundreds of millions of dollars in federal government loans as the Commonwealth seeks to deliver the building blocks for a ‘future made in Australia.’