renewables

Oil and gas major bp has confirmed it will exit the Australian Renewable Energy Hub (AREH), a 26GW wind, solar and green hydrogen project planned for Western Australia.

A new state-owned green bank, the Energy Security Corporation (ESC), has launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion (US$640 million).

Indonesia has ratified the PLN Electricity Supply Business Plan 2025–2034, targeting 42.6GW of renewable energy generation.

Australia’s Victoria government has proposed seven REZ for the state, emphasising these will help achieve its target of 2.7GW of utility-scale solar PV generation by 2040.

AEMO said that new renewable energy generation and energy storage projects in the final commissioning phase in the NEM have reached 7GW.

The Australian government has released its first National Renewable Energy Priority List, which includes an additional 16GW of renewables.

Iberdrola invested a record €12 billion into its operations in 2024, which yielded a 31% increase in operational solar capacity.

Australian trade association Clean Energy Investor Group has warned that the Environment Protection and Biodiversity Conservation (EPBC) Act has seen a doubling in decision-making periods from 2021 to 2023.

New modelling shows that electrification and flexibility can slash average day-ahead energy prices by 25% by 2030, and by 33% by 2040.

Gareth Simkins examines the winning projects of AR5 and looks ahead to assess how solar is likely to fare in future rounds.