Markets & Policy

Gravitricity, an Edinburgh-based storage specialist, aims to develop the first full-scale demonstration of its underground hydrogen storage solution by working with structural engineering contractor VSL Systems UK.

French renewable energy giant Neoen has begun construction on its 200 MW/400 MWh Western Downs Battery in Queensland, next to the developer’s 460 MWp Western Downs solar farm. The Western Downs Battery is Neoen’s fourth big battery in Australia and brings its storage portfolio to 776 MW/1,279 MWh in operation or under construction. 

The New South Wales government aims to “turbocharge” the state’s transition from coal and gas to a renewables-based grid with a commitment to reduce greenhouse gas emissions by 70% in little more than a decade on the pathway to net zero emissions by 2050.

The New South Wales government has declared the Illawarra region on the state’s south coast is set to become a renewable energy and clean manufacturing powerhouse after outlining plans for a coordinated renewable energy zone that will deliver at least 1 GW of new network capacity as the state transitions from fossil fuels to renewable energy.

Danish investment firm Copenhagen Infrastructure Partners has sharpened its focus on long-duration storage in Australia, announcing it has acquired the proposed Bowen Renewable Energy Hub project that is expected to combine 1.4 GW of pumped hydro storage with huge solar and wind generation.

Australian software company OpenSolar plans to speed the development of its free online solar design and sales platform and drive customer expansion globally after securing a funding injection of more than $22 million (USD 15 million).

The federal and New South Wales governments have combined on a landmark $7.8 billion (USD 5.25 billion) investment to help finance the development of eight critical transmission and renewable energy zone projects as they look to accelerate Australia’s clean energy future.

As Australia’s hydrogen project pipeline doubles in 12 months, Iberdrola announces investment in a green hydrogen and green methanol production plant in Tasmania. Meanwhile, projects in Scandinavia target the shipping industry.

Investment and forecast revenue from Australian resources critical to low-emissions energy technologies has grown dramatically in 2022, federal government reports find. The forecast export earnings from critical minerals has grown 50% in the year, while hydrogen projects now make up the nation’s largest single component by value, though in a highly speculative form.

FRV Australia has reached financial close on its Walla Walla Solar Farm thanks to a PPA with Microsoft. The company is also progressing its second big battery in Australia, the 250 MW / 500 MWh Gnarwarre battery in Victoria, after winning support from the Australian Renewable Energy Agency.