Markets

Development of an 800 MW/ 9,600 MWh pumped hydro project in the Central-West Orana Renewable Energy Zone in New South Wales, Australia, is now moving forward, as renewables company Acen Australia has started geological works on site.

A new US Department of Energy (DoE) roadmap outlines 35 ways to allow solar developers to expedite the interconnection of utility-scale renewables and storage projects. The roadmap, developed through a DoE stakeholder process known as i2X, proposes actions to implement these solutions.

ReNew Energy Global and Japan’s Jera have teamed up to develop a green ammonia project in the Indian state of Odisha. It will have an annual production capacity of around 100,000 tons by 2030, with Jera serving as the offtaker.

Mercom Capital Group says that total corporate solar funding, global venture capital funding, public market financing, and PV mergers and acquisitions all fell year on year in the first quarter of 2024. The sector is still grappling with high interest rates, which Wood Mackenzie says is disproportionately affecting renewables projects.

The Dutch government has earmarked €100 million ($106.7 million) of subsidies for the deployment of battery storage alongside PV projects. The funds are part of a €416 million subsidy program announced last year to alleviate grid congestion.

Car manufacturer Stellantis has agreed to invest $100 million in a 49.5% stake in Argentina’s 360 Energy Solar. The two parties plan to develop new solar plants, install large-scale storage systems, and produce hydrogen energy.

The European Investment Bank (EIB) has agreed to lend €150 million ($160.2 million) for renewables in Bhutan, in order to fund solar and hydropower installations in remote regions. Solar facilities are expected to reduce Bhutan’s reliance on energy imports during the dry months of the year and diversify the nation’s electricity mix.

AleaSoft and SolarPower Europe inform pv magazine that negative energy prices in Europe are related to the pandemic, low demand, insufficient storage solutions, and inadequate energy planning. They say this situation will likely continue into the summer.

The Swiss canton of Fribourg says it plans to cover a roadway with 14 MW of solar panels. The authorities are now conducting an in-depth feasibility study, to be followed by a financial plan for the project.

GlobalData say it is “plausible” that Saudi Arabia could close in on its target of 130 GW of renewables by 2030 by strengthening policies, competitive auctions and other financial measures.