Policy

Market analyst Fitch Solutions has raised its expectations for renewables in Australia, citing the country’s unrivalled green hydrogen project pipeline and its commercially viable large-scale battery storage sector.

The facility is expected to be located in the state of Ceará and to be powered by around 3.6 GW of wind and solar facilities located in the region. The project developer is Australia-based Enegix Energy.

As present affairs of state attest, sweeping things under the rug is the preferred strategy of the Morrison Government, and hence its $50 million investment in carbon capture and storage (CCS). According to a recently published report from IDTechEx, CCS faces a difficult few years and a long way to go. Unfortunately, even if he does reach its forecasted scale by 2040, its capacity to remove emissions from the atmosphere in any hurry is negligible.

Australia’s infrastructure advisory body has added a number of renewable energy-related projects to its priority list, recognising the need for investment in the “once-in-a-lifetime transition from thermal generation to intermittent renewables.”

Chris Bowen, who was appointed Labor’s Minister for Climate Change and Energy after a reshuffle in January, told pv magazine Australia he’s keen to make job creation his core focus, framing renewable investment as a Covid recovery solution rather than the end of Australia’s historic coal mining industry, which has dominated Federal narrative.

The Queensland Government-owned energy company, Stanwell Corporation, has announced it is from today seeking expressions of interest from renewable energy projects to incorporate into its fossil-fuel heavy portfolio.

On the same day as Bluescope Steel announced massive profits and the creation of a new Chief Executive Climate Change, the steel giant also conceded that it was not fully committed to investing in ‘green steel’ solutions in the near future.

Large swaths of low-cost land: check. Lots of sun and wind: check. The ability to transport green hydrogen cost-effectively to energy importing economies: check. Then you’re in the race to become one of the “renewable energy superpowers” of the low-carbon economy. A growing number of countries are assessing their renewable resources and natural attributes and positioning themselves to become green hydrogen exporters. However, not all are created equal.

With a state election looming and a Liberal Opposition eager to embrace renewables, Western Australia’s McGowan government has announced a $259 million renewables-focussed package in a bid to retain power and primacy in the progressive space.

Former leader of The Nations, Barnaby Joyce, has put forward an amendment to the Coalition’s legislation for the Clean Energy Finance Corporation (CEFC) which would allow the $10 billion “green bank” to invest in “high intensity, low emissions coal-fired power.”