Call it “latent energy” – Australia’s renewable resources are expected to help some of the world’s greatest polluters to reach their net-zero emissions targets, writes Natalie Filatoff, senior editor at pv magazine Australia.
The latest set of clean energy statistics compiled by the International Renewable Energy Agency signal a changing of the guard when it comes to clean power, with legacy hydropower facilities overtaken by new intermittent renewables.
UK-based Social Energy launched in Australia with the help of shareholder Shane Warne back in 2019. Now the smart energy firm is being backed with a significant investment from US-based alternative investment fund manager CarVal Investors in order for the company to rapidly grow Down Under.
A new Wood Mackenzie report has forecasted a massive swing in the levelised cost of electricity across the Asia-Pacific over the course o the next decade. Before 2030, renewables will be cheaper than new coal and gas almost everywhere, and significantly cheaper in Australia.
Sustainability-linked debt financing is experiencing ever increasing popularity and the success of green bonds has driven other products linked to social performance and other sustainability criteria. The total volume of such investments to date passed the $2 trillion point this year.
La Trobe University is well on its way to achieving its ‘net zero’ carbon emissions by 2029 goal thanks to 7,500 solar panels installed by Solgen Energy Group at its Bundoora campus in Melbourne’s north. VIC Energy Minister Lily D’Ambrosio said the feat demonstrated what could be achieved with leadership, clear targets, and renewable energy.
SA Water has bought a significant portion of land from ExxonMobil Port Stanvac oil refinery to build a large-scale solar farm to generate energy for its neighbouring Adelaide Desalination Plant. The project is part of SA Water’s $300 million investment in solar and energy storage.
Economist Ross Garnaut believes the cure for a corona virus hit and recession bound economy is strong investment in renewables, in our future energy infrastructure.
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