Markets & Policy

The Andrews Labor Government is delivering on last year’s election promise to boost renewable energy in Victoria and is seeking to legislate increasing its renewable energy target to 50% by 2030.

The Clean Energy Finance Corporation (CEFC) and the Bank of Queensland Finance Division (BOQF) are teaming up to provide $100 million in financing for clean energy upgrades to their facilities, equipment and fleets. The BOQF Energy Efficient Finance will provide loans at a 0.7% discount, drawing on the CEFC funds, to businesses looking to invest in upgrades and equipment that will reduce emissions and deliver savings on energy costs.

In anticipation of the Pacific Islands Forum (PIF) in Tuvalu this week Prime Minister Scott Morrison is set to announce $500 million in foreign aid to partnering Pacific nations in the form of a climate change and oceans funding package for renewable energy investment and climate resilience.

By considering use of the metal in charging infrastructure, analyst Wood Mackenzie has found higher demand from the mobility sector than is the case if only the volume of the material required for vehicle construction is examined.

A 1.6 MW community solar farm will support the Victorian town of Natimuk to reach its target of being 100% powered by renewable energy. The project is underpinned by state government funding.

The German developer and EPC contractor has reached the final development milestone on a solar and battery project in the Riverina region and moved into construction phase.

Touted as the first green bond issued by a retail property landlord globally, the $300 million instrument will fund initiatives to enhance the environmental performance for three of the retail assets within the QIC Shopping Centre Fund portfolio. The green bond was five times oversubscribed and attracted new investors from across Asia and Australia, as well as a cornerstone investment from the Clean Energy Finance Corporation (CEFC).

Victoria’s Monash University has unveiled the nation’s largest hybrid battery storage system as part of a microgrid that will cover 100% of power needs at its biggest campus with renewable energy.

The growing share of rooftop solar had a significant impact on Australia’s main grid in the latest quarter, both in terms of reducing operational demand and emissions intensity, the Australian Energy Market Operator (AEMO) said. Looking ahead, AEMO is seeking to procure off-market emergency reserves to help protect the grid from potential summer blackouts the upcoming summer, as coal generator outages grow in frequency.

For the second half of the year, the German inverter producer expects a significant increase in revenues and earnings, mainly due to high order intake. It also confirmed its forecast for the full fiscal year, despite declining sales and sales in the first six months of 2019.