Catch up
Capital
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Australia risks falling off the pace in the global race to attract green hydrogen based industries to its shores against hot competition from rich petrostates with low capital costs and a less cautious approach to taking the plunge on sunrise industries. (The Energy)
Rio Tinto (ASX: RIO) told shareholders at the AGM in Perth that 2025 would be a pivotal year for major projects such as the Mongolian Oyu Tolgoi copper mine, as it ramps up to peak production of 500,000 tonnes of copper a year.
“Mass electrification requires more aluminium, more lithium, more copper, and more iron ore for steel. For example, we expect that by 2040 the world will need three times more copper than today for end use in renewable grid investment, energy storage, electric vehicles and other parts of the global energy system. If this future world wants a stable supply of these materials, then it will have to build new mines, and innovate and develop new technologies. We are doing all that we can to support this future – lithium being a case in point – while ensuring we continue creating value for our shareholders. In short, there will be challenges in the years ahead, but we are well placed to navigate them and make the most of the opportunities ahead of us. — Rio Tinto Chair Dominic Barton
Amid another “lithium winter” - after completing the US$6.7 billion acquisition of Arcadium Lithium in March - CEO Jakob Stausholm said lithium was “very attractive” long term. But near-term challenges across the group included geopolitics, tariffs, community relations, industrial relations, and lengthy permitting.
Frontier Energy (ASX: FHE) updated the market on Q1 activities, which were focused on securing financing for development of Stage One of the Waroona Renewable Energy Project, which was selected in WA’s first tender under the Capacity Investment Scheme. Frontier said it has received multiple Non-Binding Indicative Offers (NBIOs) for investment at the Project level and all parties have indicated a preference for involvement in Project expansions beyond Stage One and support an accelerated expansion strategy.
Policy
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The Coalition released its "economic and fiscal strategy" should it win government, confirming it would wind up the Rewiring the Nation and National Reconstruction funds.
Victorian energy minister Lily D'Ambrosio said the state government would legislate a renewable gas target for industrial use. The government has been consulting on the issue since 2023, with a view to implementing the scheme in 2027. (Renew Economy)
In a “Don’t leave us in the 70s” campaign, the Local Government Association of Queensland urged the major political parties to guarantee a pivotal role for councils in the development of Australia’s energy policy and industry. (Council)
“Decarbonisation has to be properly coordinated at a local level with place-based solutions that not only minimise any adverse impacts but also improve the social and economic sustainability of an affected community. Many councils have already had to redirect sparse resources and then carry the extra cost of managing the impact to their communities caused by renewable projects. Clearly they need extra funding for specialised resources to fulfil this role and to avoid what would otherwise be just more cost-shifting on to local government.” - LGAQ President and Gladstone Regional Council Mayor Matt Burnett
The call came as Queensland Deputy Premier and Planning Minister Jarrod Bleijie introduced legislation to parliament fulfilling an election promise to give regional Queenslanders more say on renewable energy projects.
“It will introduce social impact assessments and community benefit agreements—binding agreements—between the developers of wind and solar farms and local governments. Assessments will be undertaken at the outset—not after—before the development application is put in. This will enable communities to have a say about what is important to them.” — Deputy Premier, Minister for State Development, Infrastructure and Planning Jarrod Bleijie
 Projects
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AusNet completed an Australian-first live powerline transfer in a project that it said was crucial for Victoria’s network. Releasing new capacity and reducing curtailment, and enabling up to 1.5GW of additional renewable energy, the 500kV powerline was diverted into the Mortlake Terminal Station in regional Victoria’s Moyne Shire.
“As the energy transition accelerates, we have been investing in new methodologies to enhance our operations and reduce the impact of planned outages on the community. Based on the success of the live line work, AusNet will investigate further opportunities to expand this into our operational plans. If we are able to do more live line work, this will help enable us to accelerate our works program significantly.” -AusNet Executive General Manager Transmission Liz Ryan
People
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Engie Australia & New Zealand’s Chief Development Officer - Net Zero Energy Solutions Anna Quillinan is finishing up at the company after it disbanded its energy services team. Engie sold its ARENA-supported EV charging network to Brookfield’s Intellihub for an undisclosed sum last month. A spokesperson for Engie said: "Exiting our Australian energy services and EV infrastructure activities was a strategic move, allowing ENGIE to focus on, and direct capital to our operating assets, building renewable energy and battery storage at pace, and growing our retailing and trading activities."
Esteemed policywonk Erwin Jackson will join the Climateworks Centre as the Head of Australia Programs after seven years as Managing Director, Policy, at the Investor Group on Climate Change.
New Zealand’s Meridian Energy announced the appointment of Mandy Simpson as Chief Financial Officer.
Caitlin McConnel, a former Senior Associate of Clayton Utz, was appointed chair of the Queensland Rural and Industry Development Authority.
Regulation
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Consultation kicked off on Victorian Energy Minister Lily D’Ambrosio’s request to extend an arrangement allowing AEMO to tap into the Dandenong LNG storage facility. Submissions are due to the AEMC by May 29.
Canada’s new Prime Minister Mark Carney, a former central banker and UN Special Envoy for Climate Action and Finance, now leads the nation’s climate policy and plans to introduce a carbon border adjustment mechanism (CBAM). (Carbon Credits) (The Globe and Mail)
An Australian CBAM would ensure the carbon price of imports was equivalent to the carbon price of domestic production, so that the competitiveness of Australian industry and global climate efforts were not undermined, according to the Carbon Market Institute. But a final report from Australia’s Professor Frank Jotzo-led Carbon Leakage Review isn’t due until the end of 2025, keeping the climate wars alive for at least another election.
Technology
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Wave energy minnow Carnegie Clean Energy (ASX: CCE) said its subsidiary in Spain has received €1,171,800 from the Spanish Government to support construction of the first CETO unit to be deployed in Europe. The “advanced payment” was facilitated by Export Finance Australia who recently backed an Advanced Payment Guarantee Bond for Carnegie Technologies Spain for the Aguamarina Project, which is funded under the EC’s €240 million Renmarinas Demos program.
Research
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OECD Clean Energy Finance and Investment Policy Analyst Benjamin Denis and World Economic Forum Energy Initiatives Lead Justine Roche said the rationale for renewables and energy efficiency should be updated to highlight protecting power systems and economies as well as mitigating climate change. (World Economic Forum)
