Markets & Policy

Queensland’s transition from a reliance on coal-fired power to renewables has taken a step forward with the state government tabling a new bill in parliament that locks in its commitments to public ownership in the energy system and renewable energy targets.

Applications are open for grants of up to $750,000 (USD 479,000) under a new Victorian government program that aims to support Victorian manufacturers to be part of the growing renewable energy supply chain and boost the production of renewable energy products and components.

The Australian government has doubled the amount of federal financing available for critical minerals projects to $4 billion (USD 2.56 billion) as it looks to shore up supply chains with the United States, deliver on emissions reduction targets, and build clean energy industries.

Solar glass manufacturer ClearVue Technologies is poised to accelerate its global expansion plans and further the commercialisation of its technology after locking in a $30 million (USD 19 million) funding facility with Australian fund manager Alpha Investment Partners.

Government agency Export Finance Australia will provide $220 million (USD 140 million) to help finance Liontown’s Kathleen Valley Lithium project after involvement from Australia’s richest person, mining magnate Gina Rinehart, caused its giant Albemarle deal to collapse.

Australia’s power market is experiencing the most pricing fluctuations of anywhere in the world, according to research from Rystad Energy. This volatility is a result of unplanned coal plant outages, natural disasters impacting transmission lines, and high solar penetration pushing down midday prices.

Leaders from Australian hydrogen startup Hysata are joining Prime Minister Anthony Albanese on his four-day visit to the US to meet President Joe Biden. Hysata is commercialising a hydrogen electrolysis breakthrough that claims to improve efficiency by 20%.

Victorian hydrogen company Energys has unveiled its third-generation, locally-manufactured Hydrogen Fuel Cell Generators, five of which are to provide backup power for Telstra’s remote telecommunications towers as part of a Victorian pilot. The company says it is already constructing a green hydrogen generation plant too, supported by funding from the Victorian government.

To help balance variable renewable generation, California has set flexible demand standards for pool controls. The standards will help the state achieve its target of 7 GW of load flexibility by 2030 while saving consumers money.

Traditional lands owners in Western Australia’s Pilbara region have signed an agreement with mining giant Rio Tinto to collaborate on large-scale renewable energy projects as the resources heavyweight powers up efforts to decarbonise its supply chain.