Policy
|
Victoria’s Auditor-General said the state was “almost certain” of a disorderly energy transition, resulting in job losses, supply disruptions and price volatility for households and businesses. The AG’s audit of whether Victoria is on track to achieve its renewable energy objectives found it should meet its 2030 storage target, but would not meet its 2032 offshore wind target with Renewable Energy Target auction projects off track and key transmission projects delayed. The report comes as VicGrid assumes responsibility for planning the Victorian transmission network. (The Age)
Industry and Innovation Minister Tim Ayres said the government was working with the states to make sure data centres were “making a net contribution to energy security”. His comments came on the back of the government’s National AI Plan that backs data centres to deliver investment and productivity growth. “This is an unparalleled opportunity for new data centre investment to underwrite, to pay for new generation and new transmission capability,” Ayres said, citing Microsoft's 15-year power purchase agreement with the Walla Walla Solar Farm.
Some 70% of renters are avoiding heating and cooling their homes to save money as energy prices rise, according to the latest Consumer Energy Report Card from consumer advocate Energy Consumers Australia. The survey of 4,000 households found 40% of renters say they cannot keep their home at a comfortable temperature without using a lot of energy. ECA says the findings underline the need for minimum energy efficiency standards for rental properties, a measure 65% of Australians polled by SEC Newgate say they support.
Capital
|
Lithium and renewable energy developer Vulcan Energy (ASX: VUL) secured $3.9 billion in funding from European and German government agencies, commercial banks and strategic industrial partners to construct phase one of its project in Germany’s Upper Rhine Valley. The company plans to extract lithium and simultaneously produce geothermal energy to sell into the local grid. (AFR)
Private equity firm Five V Capital together with the green bank the Clean Energy Finance Corporation acquired a major stake in commercial and industrial solar and battery specialist Agile Energy. The company said the deal would help it scale to deliver more than 200MW of solar and battery projects for Australian businesses under long-term power purchase agreements.
A $171 million Australian Renewable Energy Agency (ARENA) grant will help the Hunter Valley Solar Foundry project to build a solar manufacturing facility in the Hunter Valley. The facility aims to produce glass solar modules and provide production capability to other manufacturers.
 Projects
|
Queensland government-owned energy company Stanwell signed an MOU for exclusivity over Quinbrook’s proposed Gladstone Energy Hub project. The hub is expected to include 1,080MW of open-cycle gas turbines fitted with integrated synchronous condenser capabilities complimented by 780MW of 8-hour duration battery energy storage system (BESS) to provide firming capacity for Queensland’s energy system.
Petroleum giant BP scrapped plans to develop a large-scale hydrogen production and carbon capture facility in England, citing deteriorating demand for hydrogen by industrial consumers. The site is slated for a new data centre development and BP said “the two proposals are incompatible on the same piece of land”. (ESG Today)
Regulation
|
Policymakers should avoid raising fixed network tariffs as part of upcoming pricing reforms, the Institute for Energy Economics and Financial Analysis said, arguing such a move could weaken incentives for energy efficiency and peak demand reduction. Instead, IEEFA says retailers and intermediaries should provide services and software to help manage customers’ load on the network.
Technology
|
Transgrid said it had successfully installed two new circuit breakers on 132kV transmission lines at Gunnedah as part of its plan to decarbonise the high-voltage network in NSW and the ACT. The new circuit breakers don't use SF6, a greenhouse gas commonly used in electrical switchgear that is more potent than carbon dioxide. The network owner said it would now continue with trials assessing the viability of the alternatives.
Climate
|
Iberdrola Australia joined the carbon credit market with a 688-hectare reforestation and biodiversity project on South Australia’s Eyre Peninsula. It said its Carbon2Nature unit will give customers access to Australian Carbon Credit Units (ACCUs) “aligned with best practices in carbon removal, alongside tangible support for biodiversity and cultural outcomes in collaboration with local communities and Traditional Owners”.
People
|
Caitlin Matthews is starting as the Executive Officer for the Climate Change Policy, Adaptation and Risk Division of DCCEEW
Research
|
Monash University launched a new research hub with the aim of making steel production greener and more sustainable. The ARC Research Hub for Smart Process Design and Control brings together researchers from Monash, Macquarie University, University of Queensland, UNSW, and Western Sydney University, alongside industry partners including Rio Tinto, Baowu Steel and China Steel Corporation, to develop smarter, low-emission steelmaking processes.
