australia

Corporate power purchase agreements (PPAs) have hit record levels in the Asia Pacific region as fuel prices rise and the cost of renewables falls, according to Wood Mackenzie principal analyst, Kyeongho Lee.

Iberdrola targets to invest US$17 billion in renewables in the next three years and reach 52GW of renewables capacity installed.

Renewables developer ACEN Australia is poised to commence construction on its 400MW Stubbo solar project after having executed key contracts and reached a final investment decision, continuing its recent expansion in Australia’s renewables market.

Renewables developer ACEN Australia has secured an AU$75 million (US$47.8 million) investment to accelerate the delivery of an 8GW clean energy portfolio in Australia.

Australia’s recently elected Labor government has revealed the country’s federal budget for the next four years, which includes roughly AU$25 billion (US$16.02 billion) in clean energy investments.

Vena Energy Australia has closed funding for stage one of the 125MW Wandoan South PV project, which is co-located with energy storage.

Australia’s government is supporting the development of two major transmission projects to facilitate the connection of additional renewable energy capacity.

Investment group Foresight has entered into a joint venture with oil major Shell’s subsidiary, Shell Energy Operations, to acquire development rights for a 370MW of renewables project in Western Australia.

Australian start-up SunDrive has secured A$21 million (US$13.2 million) in a Series A fund that will help commercialise its solar technology.

Renewable Energy Target auction held in Victoria, Australia, won by six solar PV projects, four of which include battery storage.