Catch up
Policy
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Energy Minister Chris Bowen announced up to $24 million for the electrification of Boyer Paper Mill, which currently runs on ageing coal-fired boilers. Electrification of the mill would significantly cut emissions at Tasmania’s fourth-largest industrial emitter. “Decarbonising our industries and manufacturing isn’t just good for bringing emissions down, it makes good economic sense, as companies switch to running on not just the cleanest, but the cheapest form of energy – reliable renewables,” Bowen said.
Victorian Liberal leader Brad Battin distanced the state party from Peter Dutton’s nuclear proposal saying ‘Our focus is gas’ (The Guardian)
The Greens supported Prime Minister Anthony Albanese’s bid for Adelaide to host the COP31 climate talks but said it would not be successful unless Australia takes a stand on fossil fuels.
“South Australia has led the country on investment and transition to renewable energy. Now we should lead on pushing for an end to new coal and gas projects … “To be a leader in our region Australia must stop ignoring the pleas from our Pacific neighbours, who are clear in their calls for no new coal and gas.” — Senator for SA and Greens environment spokesperson Sarah Hanson-Young
Capital
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Specialist energy journalist Peter Milne takes a look at WA's 'Trump dump' losers and winners so far. (Boiling Cold)
Renewable energy developer ACEN Australia secured $750 million in debt financing from a mix of Australian and international lenders to help accelerate its delivery pipeline. The company said it has more than 1,000MW of renewable capacity in operation and under construction, and a further 13GW in development across the NEM.
US uranium enrichment startup General Matter raised US$50 million in a funding round that will see Founders Fund partner Peter Thiel join its board. The company aims to reduce the cost of enrichment for uranium used in advanced nuclear rectors that are yet to come online. (Bloomberg)
 Projects
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Fortescue signed an agreement with Bocimar, part of CMB.TECH, for a new ammonia-powered vessel. Due to be delivered to Fortescue by the end of next year, the 210,000 dwt Newcastlemax will take iron ore from the Pilbara to China to start to decarbonise shipping and the steel supply chain. The vessel will feature a dual-fuel engine, making it capable of operating on green ammonia that can be created using renewable energy - and a lot of water.
“Our landmark agreement with Bocimar sends a clear signal to the market – now is the time for shipowners to invest in ammonia-powered ships. The days of ships operating on dirty bunker fuel, which is responsible for 3% of global carbon emissions, are numbered. We continue to implore shipping regulators to show the character and leadership that is necessary to ensure this happens sooner rather than later.” — Fortescue Metals CEO Dino Otranto
Samsung C&T Renewable Energy Australia sought approval for a 80MW / 320MWh 3-hour duration BESS in the popular Riverina Murray Region. (Energy Storage News)
Technology
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In its first collaboration with Octopus Australia, technology giant Wärtsilä is supplying a 64MW/128MWh energy storage system for the Fulham Solar Battery Hybrid project. The project secured Generator Performance Standards (GPS) approval from AEMO in June 2024 and is one of the first large-scale DC-coupled hybrid battery systems. It marks a significant step in the transition to co-located hybrid renewable energy and energy storage. It also highlights a growing trend toward integrating renewable energy and storage to support grid stability, especially as solar and wind curtailment becomes more common, Wärtsilä said.
People
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Elixir Energy (ASX: EXR) appointed Stuart Nicholls as managing director and CEO to lead the Grandis gas project in Queensland’s Taroom Trough.
Research
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Gas exporters have touted the potential of LNG to a coal-to-gas switch in China but that’s a furphy, IEEFA Research Lead Sam Reynolds found. The role of LNG can only be understood in relation to its alternatives, he said in a briefing note. A closer look at China’s power sector shows how solar and onshore wind are squeezing the role of gas. Further, China’s renewable energy deployment continued at an unprecedented rate in 2024. Solar capacity jumped 277GW, a 46% increase, alongside nearly 80GW of new wind projects. Total wind and solar capacity reached 1,408GW, surpassing the country’s 2030 target of 1,200GW - and six years ahead of schedule.
Meanwhile Australian gas policy seems intent on replicating vulnerabilities, Henry Campbell and Raelene Lockhorst write in ASPI’s The Strategist. Short-term price signals cannot outweigh long-term sovereign capabilities and nor can national security and energy policy remain separate, they warn, as access to international markets can be disrupted.
Random
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Ex-Tesla energy boss Drew Baglino went on a surfing break and re-emerged as head of new firm Heron Power. (Renew Economy)