Australia

Australian technology billionaire Mike Cannon-Brookes has become the single largest shareholder in AGL after Grok Ventures, the private investment company he owns with wife Annie, bought an 11.28% stake in the public company last night. The move appears to progress the billionaire’s plan to use the free market to force the decarbonisation of Australia’s biggest emitter from the inside out. In other words, the world’s largest single decarbonisation project is back on.

Australian energy developer Maoneng has unveiled ambitious plans to build an almost 1GW solar PV farm and battery energy storage facility in regional New South Wales.

Australian solar thermal specialist Vast Solar has announced plans to build a 20MW concentrated solar thermal power plant with more than eight hours of energy storage near Port Augusta in South Australia after securing financial backing from the federal government.

New figures reveal Australia’s clean energy transition can be transformative for the nation’s regional communities, not only providing low-cost renewable energy but also generating long-term employment opportunities.

Origin Energy’s ambition to accelerate the growth of its renewable energy portfolio saw progress this week with the acquisition of the pre-construction 900 MW Yarrabee Solar Farm. Origin’s new renewable expansion strategy took shape after conceding in 2021 that its fossil fuel business was haemorrhaging under the strain of low renewables prices.

The Commonwealth government’s Critical Minerals Accelerator Initiative has awarded a $5.2 million grant to Canberra and Brisbane-based Lava Blue, a company seeking to improve the processes of valuable minerals from vanadium pentoxide processing waste, particularly high purity alumina.

Materials which undergo singlet fission provide an exciting and different pathway for exploiting the full solar spectrum, researchers at the prestigious University of New South Wales explain.

Global solar supply chain issues and the Chinese energy crisis which hit in the second half of last year have, ironically, led to a “massive” oversupply of solar panels in Australia, according to major distributors. The tension between increased global panel costs and the glut of them within Australia has led to some messy pricing and strange market dynamics on the ground.

Global investment manager Igneo Infrastructure Partners will acquire Elliot Green Power, along with its solar and storage portfolio, via its Australian business, Atmos Renewables.

Developer Renewable Energy Partners has announced plans for a 180 MW solar PV project, possibly with a battery storage system, in the Western Downs region of Queensland.