In this week’s issue of Solar Tidbits: (1) Energy Estate Looks for $500 Million in Funding to Help Up its Massive Development Pipeline (2) Australia Commits to a Higher Reduction Target for 2030 (3) Consumers Turn to Rooftop Solar and Batteries in the Midst of the Energy Market Turmoil
Energy Estate Looks for $500 Million in Funding to Help Up its Massive Development Pipeline
Photo Credit: Energy Estate
Energy Estate, an Australian renewables company, has announced ambitions to raise more than $A500 million to fund its wide and diverse development pipeline, which includes offshore wind, green hydrogen, and pumped hydro.
Energy Estate has hired Nomura Greentech as its financial advisor for the capital round, which will help the company achieve its “objective” of transforming the energy sector and assisting in decarbonization.
Since its inception in 2018, Energy Estate has released a regular stream of ambitious project concepts and announcements, many of which the firm is co-developing with a variety of partners and are still in the early stages of planning and feasibility.
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Australia Commits to a Higher Reduction Target for 2030
Photo Credit: Photon Energy
Australia’s new Labor government has increased the country’s 2030 emissions reduction target while promising to invest in transmission infrastructure and energy storage to aid the transition to renewables.
The government has promised the UN that by 2030, it will reduce greenhouse gas emissions by 43% below 2005 levels, putting it on track to reach net-zero emissions by 2050. The former government set a target of a 26–28% reduction in emissions by 2030.
The increased aim “reflects my government’s resolve to urgently step up the pace of action, and work alongside global partners and particularly with our Pacific family, to tackle the climate crisis”, said Prime Minister Anthony Albanese, who took office last month.
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Consumers Turns to Rooftop Solar and Batteries in the Midst of the Energy Market Turmoil
Photo credit: Western Power
The rooftop PV market returned in May, according to the latest monthly data from industry analyst SunWiz, with 215MW of additional capacity installed by homes and small businesses.
This contrasts with a 26% drop in April when 172MW was installed on rooftops across the country, down 62MW from March’s total of 234MW.
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