Markets & Policy

Australian commercial solar outfit CleanPeak Energy will deliver at least four new solar farms in regional New South Wales after striking a green energy deal with the state government that will ensure the long-term carbon neutrality of Sydney’s Barangaroo precinct.

A “major influx” of new renewable generation and storage capacity is poised to connect to Australia’s main grid with the energy market operator revealing almost 150 projects representing more than 31 GW of new capacity are in the application and pre-registration stages.

Australia’s largest electricity transmission project has hit a snag with a major union alleging transmission line workers delivering the New South Wales stretch of the $2 billion-plus (USD 1.32 billion) Project EnergyConnect electricity interconnector have been working in unsafe and non-compliant conditions.

Victorian network operator AusNet has commenced construction of a transmission network upgrade that is expected to reduce generation constraints and improve network stability in the state’s southwest, unlocking 1.5 GW of additional renewable energy generation capacity.

Authors of the “World Nuclear Industry Status Report 2023” define the future role of nuclear energy in the global energy mix as “irrelevant” and “marginal.” The authors add that there were 407 operational reactors producing 365 GW in the middle of the year, which is less than installed capacity predictions for solar by the end of the year.

GCube Insurance says that hail damage accounts for less than 2% of filed claims but constitutes more than 50% of total costs for solar facility loss claims.

One of Australia’s largest property developers has joined forces with Energy Bay, which specialises in distributed renewable energy solutions for property landlords. Energy Bay is making it possible for Stockland to utilise the energy produced at its properties with large rooftops and low energy use, such as its warehouses, to provide extra energy for its high-energy use properties.

EnergyAustralia has released the concept design for a 335 MW pumped hydro energy storage and generation project it plans to develop at Lake Lyell near Lithgow in central western New South Wales.

Australia ranks as the fifth most attractive destination for green investment and development opportunities according to multinational consultancy EY’s latest renewable energy country attractiveness index.

With the consistently unambitious forecasts for solar trotted out by entities such as the International Energy Agency (IEA) now a matter of record, a German risk management company has tried to predict more realistic figures for 2030 and beyond.