Australia

Genex Power claims it is making rapid progress on the construction of the first 50 MW phase of a PV array at a former gold mine in northeastern Australia, with preparations already under way for the second 270 MW stage, as well as a related 250 MW pumped hydro installation.

The British renewables investor is to embark on a joint venture with Australian solar firm Stellata Energy to commit to develop more than AU $200 million on developing PV projects across Australia.

The government of the Australian state has revealed plans to launch reverse auctions this year for as much as 400 MW of renewable energy capacity, in addition to 100 MW of energy storage systems, as part of a new A$1.16 billion ($873.2 million) investment.

The Australian Solar Council (ASC) suggests that the Finkel review into reforming country’s energy system has fallen short of the high expectations the industry had for it. The ASC’s John Grimes said that the report might help produce some “sensible” policy outcomes, it is far less ambitious in its vision as initial draft findings.

Australia’s chief scientist Dr Alan Finkel finally released its long-awaited report on how the country’s energy system is changing. The renewable sector had long hoped the report will set out a vision for the country’s transition to low-carbon electricity generation.

Solar met 7.6% of the state’s demand this year, as South Australia surpasses its renewable energy target eight years early.

The Australian telco has signed a long-term contract to take all the output from a 70 MW solar farm near Emerald in a bid to rein in its energy costs, while the Queensland government has welcomed the company’s solar commitment set to create 200 jobs.

With the $20 million financial backing of the Clean Energy Finance Corporation (CEFC), local lender RateSetter has launched Australia’s first peer-to-peer green bond lending platform connecting investors and borrowers with an eye on environmental sustainability.

In order to help reduce the future cost of solar PV, ARENA is set to launch its third competitive funding round for solar R&D.

Researchers at Australia National University have developed a nanostructure technique to finely control the direction of light. The technique, says ANU, could be applied to tandem perovskite/silicon solar cells.