Europe

When US President Joe Biden signed the $500 billion (USD 369 billion) Inflation Reduction Act into law in August 2022, it was lauded as the most significant policy the world has yet seen to combat climate change and drive the transition to renewable energies. However, some international critics and competitors claim the landmark bill thwarts their slow-burning ambitions to foster green manufacturing at home. As governments scramble to respond to the scale of the IRA, Australia is one country realising it may have already been left behind.

UK-headquartered fund manager Glennmont Partners has its sights firmly set on the Australian renewable energy market after announcing it plans to acquire, build and operate a portfolio of large-scale solar farms and energy storage assets as part of a $145 million (USD 100 million) strategy.

Enerpoly produces low-cost, low-maintenance zinc-ion battery storage systems for durations of two to 10 hours. The Swedish battery specialist now plans to develop prototypes of a residential plug-in storage system with rechargeable zinc batteries in Europe, under an EU-funded collaborative project with Austrian startup EET.

Finnish researchers have proposed the use of solar, wind, and storage to provide desalinated seawater to restore forests. Their model predicts that an additional 10.7 TW of PV would be needed to actually do this by 2100, leading to a cumulative carbon dioxide sequestration potential of 730 gigatonnes.

The Bern University of Applied Sciences in Switzerland has published the initial results of a survey on the durability and performance of residential PV inverters and power optimisers over a 15-year period. They found that more than 65% of the inverters did not present yield-relevant faults by their 15th year of operation.

Malaysian oil giant Petronas is reportedly set to buy the Australian renewable assets of German developer Wirsol. With roughly 750 MW of solar and storage projects and nearly double that in development, the deal could be worth between $900 million (USD 625 million) to $1 billion, according to Reuters.

Scientists in Sweden have compared AC and DC topologies in PV-powered buildings using battery storage. They have found that DC distribution systems can achieve energy savings when they are combined with solar-plus-storage systems.

A distribution agreement between Europe-based Enermech and Wolftank Group will see mobile hydrogen refuelling stations installed at remote mine sites and industrial sectors across Australia and New Zealand.

Australian-headquartered solar data specialist Solcast has been acquired by Norwegian energy assurance and risk management company DNV as it seeks to strengthen its solar forecasting services to help maximise the value of PV power plants globally.

Just weeks after announcing its intent to build a $300 million (USD 210 million) lithium-ion battery manufacturing facility in Victoria, Australia-based Recharge Industries is reportedly considering a bid for the collapsed UK battery company Britishvolt that could revive plans to construct a battery cell gigafactory in northern England.