Markets & Policy

Edify Energy has completed the financing for its grid forming 150 MW / 300 MWh battery energy storage system. The system will be made up of three separate batteries in the Riverina region of NSW which have gained approval to operate in ‘virtual synchronous generator’ mode.

Selected projects will be awarded a fixed rate under a 20-year contract under the country’s renewable energy certificate (REC) scheme and will sell electricity to local power distributors.

The US multinational will expand the solar and battery energy storage manufacturing capacity at its factory in Tamil Nadu to 9 GW per annum by the end of 2022. The factory manufactures the FlexInverter power conversion solution and the FlexReservoir utility-scale energy storage systems.

Australia’s uptake of rooftop solar is one of the highest in the world with more than 30% of free-standing households across the nation now fitted with a PV system but the Clean Energy Regulator has revealed a “steep decline” in the number of installations in early 2022 with deteriorating economics playing a major part.

Solar installers and resellers can now access up to $250,000 on interest-free terms to increase their stocks of Australian-made solar panels after PV module manufacturer Tindo Solar teamed with business financer Moula Pay.

The New South Wales government has announced its single biggest investment yet in renewable energy infrastructure, committing $1.2 billion to fast-track priority transmission and energy storage projects as the energy sector continues its rapid transformation towards a decarbonised and decentralised future.

Philippines-based Prime Infrastructure Holdings has unveiled plans to construct a massive solar farm and energy storage project featuring up to 3.5GW of PV backed by up to 4.5GWh of battery energy storage in the Southeast Asian nation.

The New South Wales government has invited registrations of interest from renewable generators, energy storage and network developers, and existing and proposed energy loads, to participate in shaping a renewable energy zone to be established in the Illawarra region on the state’s south coast.

Resource sector heavyweight Rio Tinto has called for proposals to develop an estimated 4GW of large-scale wind and solar farms and firming capacity in central and southern Queensland as it progresses plans to power its aluminium operations in the state with renewable energy.

Australian federal and state governments have agreed to a suite of reforms designed to tackle soaring energy prices, including creating a national transition plan to phase out fossil fuels, financing projects to boost the nation’s electricity grid, and progressing designs for a new capacity mechanism.