After Genex Power’s offtake agreement with EnergyAustralia fell through earlier this month its concessional federal funding lapsed. However, the Project has secured an extension into 2020, hopefully allowing it enough time to restructure and reach financial close.
Genex Power has failed to lock in a previously announced offtake agreement with EnergyAustralia for its landmark Kidston hub in northern Queensland and requested a trading halt with the ASX on their securities.
Hydro Tasmania has released a white paper pushing the island state’s claims to become the Battery of the Nation via upgrades to the Victoria-Tasmania interconnector, an effort to unblock the backlog of solar and wind.
Among 31 dispatchable electricity projects unveiled this week under the NSW Emerging Energy Program, utility-scale battery storage accounted for a bulk of proposals. Four big batteries have been awarded funds for pre-investment studies, and another ten have been shortlisted for capital funding.
ITP Renewables has released Version 1 of open-CEM, an open-source modelling platform that allows users play out tailored made energy-transition scenarios on the National Electricity Market (NEM) for years simulated up to 2050. The platform is an extraordinary tool for investors, policy makers, project developers and the public.
The Queensland government has pledged to support Genex’s project at Kidston with up to $132 million. The funding will be used to build a single circuit transmission line and connect a massive pumped hydro project with the main grid, unlocking additional stages for the clean energy hub, including up to 270 MW of additional solar and up to 150 MW of wind.
The Australian Energy Market Operator (AEMO) has today released its 2019 Electricity Statement of Opportunities (ESOO), a forecast of the supply and demand conditions across the National Electricity Market (NEM) as the country moves toward the 2019-20 summer. AEMO warned that a dearth of short and longer-term investment in dispatchable resources and transmission will ensure real-world impacts this summer.
The Australian Renewable Energy Agency (ARENA) announced last week that it would provide up to $40 million in funding to fast-track a Pumped Hydro Energy Storage (PHES) project in South Australia. ARENA is conscious of the need to store South Australia’s fast-growing renewable generation fleet.
AC Renewables, the energy arm of Philippines’ Ayala Corp, and Australia’s UPC Renewables have agreed to buy 51% in a 250 MW pumped hydro project and a neighboring 300 MW solar project, both located in South Australia.
After it deployed a record $1.3 billion into the clean energy sector in a 12-month period, the Clean Energy Finance Corporation said it will sharpen its focus on energy storage and other technologies to support the stability of the national grid.
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