South Australia sets up $50 million Grid Scale Storage Fund
The South Australian state government has launched a $50 million fund to support construction of new energy storage projects, seeking to address intermittency in the state electricity system and make electricity more affordable and reliable. There will be one round of applications, with a closing date of Thursday, 7 February 2019.
CSIRO, Fortescue enter into hydrogen partnership
Iron ore giant Fortescue Metals Group will invest $20 million into hydrogen research at Australian national science agency CSIRO’s Brisbane laboratories. The partnership aims to develop new technologies, create jobs, and capitalise on the economic opportunities associated with hydrogen.
RCR Tomlinson enters administration
After it entered the second trading halt in a matter of months a week ago, Perth-based engineering company RCR Tomlinson has failed to secure additional funding and went into administration. Earlier this year, the company managed to raise $100 million in capital from its shareholders, after which it took huge write-downs on two Queensland solar farm.
France’s decision to delay nuclear phaseout by a decade jeopardizes PV plans
The French government has devised three possible scenarios for the planned phasing out of part of its nuclear power generation assets. Even under the most optimistic scenario, the target to reduce the share of nuclear power from around 75% to 50% by 2025, which had been set by the previous government, will only be reached in 2035. The most pessimistic scenario envisages the construction of four new nuclear reactors by 2040.
Labor “clean energy powerhouse” plan welcomed by RE sector
Federal Labor leader Bill Shorten unveiled the party’s ‘all of the above’ plan for Australia’s energy sector, which it will take to the 2019 election. A ramped-up NEG, project auctions under a CfD structure, grid infrastructure investment, energy efficiency and a boost to battery storage all feature and were welcomed by the clean energy sector.
Solar, wind cheapest source of new generation in major economies – BNEF
Solar and/or wind are said to be the cheapest source of new energy generation in all major economies, apart from Japan, finds BloombergNEF. It adds that China’s utility-scale PV market has contracted by over a third this year; and that battery costs are set to drop a further 66% by 2030, driven by EV adoption.
Queensland kick-starts battery grant and loan scheme
Under the scheme, the state government will offer a combination of grants and interest-free loans for solar and battery storage systems to help 1500 Queensland households and small businesses save money off their energy bills.
AEMO well-prepared for summer, renewables to help manage peak periods
As 2.1 GW of new capacity – mostly wind, solar and storage – has come online in the previous year, AEMO has sourced much less additional reserves than last year to manage potential high risk scenarios that typically occur in summer. Over the next two years, the market operator expects 6 GW of new wind and solar capacity to be connected to the grid, which will alleviate the short-term risk of involuntary load shedding during summer peak periods.
Swiss investment manager closes first Australian solar project
SUSI Partners AG has fully acquired and provided financing to construct a 34 MW solar PV plant with storage optionality located in Middlemount, Queensland. The investment firm says it views the Australian market as highly attractive, despite policy uncertainty.
NSW in line for 4 GW solar, wind and battery hybrid project
Australian developers Energy Estate and MirusWind have proposed a massive renewable energy hub in New South Wales. The project will combine wind and solar energy generation with pumped hydro storage and other storage options to provide up to 4 GW of new clean generation.
