Markets & Policy

Australian renewable energy developer MPower plans to step up its activities after establishing a funding relationship with international investment firm Singapore outfit Ampyr Energy that will help finance the growth of its portfolio of mid-scale solar power and battery energy storage projects.

Australia has been warned it must act swiftly to capture the economic and strategic opportunities of a booming battery industries sector that is predicted could provide $55.2 billion (USD 36.87 billion) in additional gross domestic product to the economy by the end of the decade.

Global renewable capacity increased by 295 GW last year, bringing the world to a cumulative installed capacity of 3,372 GW, according to the International Renewable Energy Agency (IRENA).

Bureau Veritas tells pv magazine that there is a great deal of interest in hydrogen certification schemes in Australia, Europe, the United States, and the Middle East.

The New Zealand government will further investigate the viability of establishing a pumped hydroelectric facility on the South Island that would provide up to 8.5 TWh of annual generation and storage capacity to support the nation’s transition to 100% renewable electricity generation.

An international group of researchers has calculated the potential for floating solar across the world. The results show a generation potential of 9,434 TWh per year across 114,555 global reservoirs, with 30% of their area covered. The United States leads with 1,911 TWh per year of potential, with Australia coming in 8th, with 210 TWh per year.

The state-owned oil and gas major targets 200 GW of renewable energy capacity by 2050. It also plans to have around 2 million metric tonnes of green hydrogen capacity in its fold by 2050.

Access to extremely detailed consumer energy data is becoming available in Australia part of the federal government’s Consumer Data Right scheme. Used imaginatively, the data has the potential to improve how investment decisions are made, and could even open up new approaches to energy retailing, Stuart Low, founder of Biza tells pv magazine Australia.

Following consultations with industry stakeholders, Australia’s Clean Energy Regulator will open an application process to decide which organisation will list approved solar panel and inverter equipment lists in future, part of a major overhaul to the industry.

Canadian investment giant Brookfield will acquire the remaining 50% stake in Spain-based renewables developer X-Elio from its joint venture partner, investment firm KKR. X-Elio has more than 500 MW of projects in development in Australia and the move from Brookfield, which is also currently looking to takeover Origin Energy, a major Australian “gentailer,” extends the ambitious company’s hold in Australia.