Markets & Policy

Australian concentrated solar thermal company Vast Solar has struck a deal with the world’s largest oil drilling contractor, Nabors Industries, announcing it will go public via the partnership and expects to list on the New York Stock Exchange midyear.

Western Australia-based Hybrid Systems Australia has commissioned 42 MW of interconnected battery storage for two Fortescue mine sites in the Pilbara region, noting the installation is one of the largest for a mining application.

Western Australia’s regional utility Horizon Power has installed a battery system in Exmouth on the state’s northern coast, unlocking 2 MW of solar hosting capacity. The installation is one of nine batteries being installed by the utility across the state and is arguably a more effective rendition of a “community battery.”

When US President Joe Biden signed the $500 billion (USD 369 billion) Inflation Reduction Act into law in August 2022, it was lauded as the most significant policy the world has yet seen to combat climate change and drive the transition to renewable energies. However, some international critics and competitors claim the landmark bill thwarts their slow-burning ambitions to foster green manufacturing at home. As governments scramble to respond to the scale of the IRA, Australia is one country realising it may have already been left behind.

In response to growing demand, Trina Solar has revealed plans to ramp up ingot capacity at a new factory in Xining, in China’s Qinghai province.

Wafer prices rose by between 24% and 36% this week, according to new data from the China Nonferrous Metals Industry Association (CNMIA).

If re-elected in March, the New South Wales Liberal and National coalition say they will fast track the rollout of public and private electric vehicle (EV) chargers by reforming strata and planning laws, and installing public facilities at transport hubs.

The Australian Alliance for Energy Productivity (A2EP) has released a free, online estimation tool to aid Australian businesses in sizing heat pumps to replace gas boilers. The tool estimates the capex, opex, net savings, and payback time based on inputs about heating, cooling, location, and temperature requirements.

UK-headquartered fund manager Glennmont Partners has its sights firmly set on the Australian renewable energy market after announcing it plans to acquire, build and operate a portfolio of large-scale solar farms and energy storage assets as part of a $145 million (USD 100 million) strategy.

Energy Australia has been convicted and fined a total of $1.5 million (USD 1.04 million) following the tragic death of a worker at the Yallourn power station in Victoria’s Latrobe Valley.