Markets & Policy

Australia-based energy investment manager Quinbrook Infrastructure Partners has sold a 49% stake in a massive $1.9 million (USD 1.2 billion) solar PV and battery energy storage project being developed in the United States to a Dutch pension asset manager.

The off-grid solar sector has shown resilience in the face of pandemic-related challenges, with 70 million people gaining access to electricity from early 2020 to the end of 2021. However, the ability to pay for solar energy kits has taken a hit.

A German startup backed by major European entrepreneurs and brands this week began the first of many strategic acquisitions in Australia, seeking to create a cross-country network and become a ‘one stop shop’ for renewable technologies with a major marketshare. Chris Williams, the founder of Natural Solar and now the CEO of 1komma5’s APAC arm, told pv magazine Australia the goal is to become the “Apple store of energy” – an opportunity he believes is well within reach given the institutional capital and scale behind the German outfit.

On the back of recent capital investment from a Canadian pension fund, NovaSource Power Services has made its first big move in the Australian market with the acquisition of First Solar’s 500 MW of operations and maintenance assets.

The government of the Philippines has introduced a new preferential dispatch policy for renewable energy in the country’s wholesale electricity spot market. It has also started to amend the Renewable Energy Act to remove a 40% ownership cap on foreign investments in clean energy projects.

Australian company Vast Solar’s plans to expand into the rapidly growing North American renewable energy market have received a multi-million dollar boost after the United States government announced more than $38 million (USD 24 million) in grants to advance the development of concentrated solar thermal power technologies.

The head of the country’s energy market operator has reiterated his call for the development of a mechanism that incentivises dispatchable capacity, saying it is critical to underpin the growth of renewables as Australia’s energy transition continues to accelerate.

South Korean solar and battery manufacturer Qcells has partnered with finance lender Plenti to launch a home solar, energy storage, and virtual power plant (VPP) solution for Australian customers. 

A growing number of residential solar projects include energy storage batteries. In the first part of this series, we look at the backup power feature of batteries.

Bundelkhand Saur Urja Ltd. has opened bids from project management consultants for the 1.2 GW Jalaun Solar Park, which is now being developed in the Indian state of Uttar Pradesh.