Markets & Policy

Greek energy company Mytilineos and its subsidiary Metka EGN continue to put down roots in the Australian market, signing a Power Purchasing Agreement which will allow construction to commence on its 23 MW extension to Wagga Wagga North Solar Farm. The extension comes after the company was fined in January for breaching its Aboriginal Heritage Impact Permit by commencing works without first notifying Heritage NSW, leading to the destruction of Indigenous artefacts.

A new study from the Lappeenranta University of Technology predicts solar may even achieve a 69% share for total primary energy supply by the end of the first half of the century. In terms of price, solar PV is expected to achieve a capex of €246/kW-installed (AU$385/kW-installed) for utility scale projects, and of €537/kW (AU$840/kW) for residential arrays by 2050. The levelised cost of energy (LCOE), however, is expected to remain constant over the next three decades, as the energy transition will also be implemented with storage technologies, increased flexibility and the production of synthetic fuels.

In a strange synchronicity, two of Australia’s major aspiring vanadium producers have today come out with announcements. TNG Limited has solidified a deal to commercialise vanadium redox flow batteries using output from its Mount Peake project, while competitor Australian Vanadium has filed a patent application for its vanadium processing route.

Energy giant AGL has signed a memorandum of understanding with Finnish technology company Wärtsilä, to develop large-scale hybrid energy systems for AGL’s commercial and industrial customers.

Chinese module manufacturer Jolywood is preparing to invest in a joint venture with state-controlled local partner PT Len Agra Energy to set up 1 GW of annual cell and panel capacity.

The contest is over. Faster, cheaper, more flexible than gas turbines … battery energy storage must be the future peaking energy service provider of choice says the hard evidence exposed in a new paper by the Clean Energy Council.

Call it “latent energy” – Australia’s renewable resources are expected to help some of the world’s greatest polluters to reach their net-zero emissions targets, writes Natalie Filatoff, senior editor at pv magazine Australia.

Giant PV and wind projects are taking shape in Australia’s north, with the aim of supplying Asia with the clean energy it needs for decades to come. The Asian Renewable Energy Hub is one such project, as it targets green hydrogen production at a cost of $1.50/kg. Sacha Thacker, chief strategy officer at InterContinental Energy – one of the companies trying to the get the ambitious initiative off the ground – says that while the scale of projects today boggles the mind, the coming demand is more boggling still.

Taiwan Cement is planning to build a US$352 million EV battery factory in southern Taiwan. The 1.8 GW facility will produce high-charge-discharge nickel ternary batteries.

Vattenfall, SSAB and LKAB are building a rock cavern storage facility in a coastal city in northern Sweden. The 100-cubic-meter facility will be built 30 meters below ground and will begin storing green hydrogen next year.