Australia

A joint fund with roughly $125 million from both the Australian and German governments has opened today and is seeking applications from projects across the value chain of renewable green hydrogen.

The Victorian government will fund a floating solar project, an initiative to locally manufacture solar batteries, and install a portable renewable energy system for community services during emergencies as part of its Latrobe Valley program.

A consortium led by Australian financial group Macquarie Asset Management will acquire French solar developer Reden Solar. The $3.7 billion (€2.5 billion) transaction is expected to be finalised in the third quarter of this year.

Construction of an innovative solar to green hydrogen microgrid in the Daintree Rainforest is set to commence with the Federal Government signing off on a multi-million-dollar deal to bring renewable power to communities in the World Heritage-listed region in Far North Queensland.

Australian energy major AGL has rejected a second buyout offer from a consortium including software billionaire Mike Cannon-Brookes and Canada’s Brookfield Asset Management, saying it continued to undervalue the power producer.

We are living through uncertain times. Despite the urgency of the energy transition and the substantial and growing opportunities for new utility-scale (and larger) renewables developments, risks arise for owners, developers, lenders, investors and contractors.

Researchers from Australia’s Monash University have created a new generation of lithium-sulfur batteries that they say provides a cheaper, cleaner and faster-charging energy storage solution that outlasts lithium-ion alternatives and is rechargeable hundreds of times without failing.

Emerging Western Australian renewable energy project developer Frontier Energy is pushing ahead with “significantly advanced” plans to develop a large-scale solar PV farm in the state’s southwest after the successful completion of an $8 million capital raising.

With the global demand for lithium accelerating, Australian miner Core Lithium has inked a deal to supply United States-based electric vehicle and battery maker Tesla with up to 110,000 tonnes of lithium spodumene concentrate.

Australian-based mining giant Fortescue has commenced the development of an electric train that recharges itself using gravity after the resources company this week settled its $310 million purchase of UK-based technology and engineering services business Williams Advanced Engineering.