Markets & Policy

Ibrahim Ariffin and JP Grayda, from Afry Management Consulting, examine two promising ASEAN markets, the Philippines and Malaysia, and the challenges they face as they strive to hit renewable energy targets. The long-term outlook is broadly positive, despite some uncertainties.

Thermal solar company Vast Renewables and German-headquartered energy company Mabanaft have further cemented their partnership with a joint development agreement to advance Vast’s CSP-powered green methanol reference plant, Solar Methanol 1.

AGL Energy has followed suit with Origin Energy to say it will shift from direct investment into renewable energy generation toward decarbonisation targets, favouring alternatives like pumped hydro, gas and batteries.

Green finance for vehicles and equipment is selling like hot cakes in Western Australia where National Australia Bank has seen a 305% increase in loans there in a six month period, and demand for electric bus loans are up 168%, new data finds.

Investment fund managers IFM Investors and QIC have inked Australia’s largest power purchase agreement worth $700 million through its infrastructure renewable energy program which has a potential total size at peak of 500 GWh per year.

Wood Mackenzie says that JA Solar has taken first place on its list of solar panel manufacturers. Nine of the first 12 positions are held by Chinese manufacturers, seven of them could surpass 100 GW of capacity by 2027, and eight are self-sufficient in cell capacity, according to the research firm.

The 2024–25 Queensland Budget has delivered on its commitment to invest $26 billion into the state’s energy transformation, funding the renewable energy sector and grid infrastructure to progress its legislated target of 75% emissions reduction by 2035.

Spanish renewable project developer Solarig has signed an agreement with Australian electricity and gas company Jemena to collaborate on the development of green hydrogen projects, dropping a pin on regional New South Wales.

The Ministry of Energy and Mineral Resources in Indonesia has set a quota of 5,746 MW of rooftop solar to be deployed between 2024 and 2028. The Jakarta-based Institute for Essential Services Reform anticipates rooftop solar to be more commonly adopted by commercial and industrial consumers than residential users, following the abolishment of net-metering earlier this year.

Energy major AGL will invest $150 million for a 20% stake in smart energy platform Kaluza in a move the utility hopes will radically transform its retail operations and deliver significant savings.