Markets & Policy

The head of one of Australia’s largest energy generators, retailers and developers has pointed to rising costs and uncertainty about recovering those costs as the cause of a drop in investment for large-scale renewables that threatens Australia’s clean energy goals.

New analysis from independent think tank Climate Energy Finance finds renewable energy and decarbonisation of industry is receiving just 7% of the ‘Big 4’ banks’ collective multi-billion-dollar sustainable finance target allocations.

Australian iron ore and renewables giant Fortescue Energy has signed a joint venture with Moroccan phosphate mining company OCP Group to supply green hydrogen, ammonia, and fertilisers to Morocco, Europe and international markets.

Fortescue has awarded energy infrastructure provider GenusPlus Group two contracts worth a combined $50 million to deliver transmission infrastructure as the mining giant works to decarbonise its iron ore operations in Western Australia.

A Western Australian Aboriginal corporation’s plan to create one of the country’s largest renewable energy projects has reached a new milestone with the registration of the Indigenous Land Use Agreement for the planned 3 GW project by the National Native Title Tribunal.

Australia’s energy sector is undergoing a notable shift with new data from market analyst Sunwiz showing a record surge in utility-scale battery energy storage projects over 10 MWh in 2023 while residential and commercial installations also reached new highs.

With renewable energy capacity in Australia expected to at least double over the next six years, the search for land to host solar, wind and energy storage developments is offering a new income stream for interested landowners.

Three sleeping solar farm beauties in the Top End may receive the kiss of life with Northern Territory Chief Minister Eva Lawler indicating the government could buy them from their owner, but questions remain about grid stability.

Fortescue has missed a deadline to reach financial close on a green hydrogen project in Queensland that is key to Genex Power’s proposed Bulli Creek solar and big battery development, but there are other names on Genex’s dance card if the deal falls through.

The Ballarat Energy Network is on track to decentralise the regional city’s electricity network with a long-term view to supply the Victorian community’s 120,000 residents with 100% renewable energy generated by local distributed energy resources.