Analyst firm BloombergNEF has cautioned that Australia requires around A$2.4 trillion (US$1.6 trillion) investment to reach net zero, with solar PV and wind installations to reach 290GW by 2050.
Floating solar installations continue to grow globally, with Asia set to lead the way in the next decade, which presents significant opportunities for its combination with pumped hydro storage, according to a Fitch Solutions report.
Japanese power company J-Power has acquired a 10% stake in renewables and pumped hydro developer Genex Power through its Australian subsidiary JPGA Partners.
A large-scale solar PV system paired with pumped hydro energy storage could cover as much as 25% of the Hawaiian island of Kaua’i’s energy demand, pushing the island’s total share of renewables in its energy mix past 80%.
Some 12GW of renewable generation assets and 2GW of energy storage are set to come online in New South Wales (NSW) over the next ten years as part of state government plans to replace an ageing coal fleet and deliver lower electricity prices for consumers.
State can become Australia's 'renewable powerhouse' by 2040 through investments in hydrogen production, pumped hydro storage and a new interconnector to the mainland, according to premier Gutwein.
Country reeling from widespread power cuts says Abu Dhabi Prince has agreed to assist with roll-out of 2GW solar portfolio nationwide, with Lake Kariba singled out as impromptu battery.
