8 March 2021
The last decade saw British steel magnate Sanjeev Gupta quickly emerge as the saviour of one of Australia’s largest steelworks, and plans for gigawatts of large scale solar to underpin his “green steel” and “green industry” vision here and abroad.
Now, however, that green vision could be stymied as Gupta’s Australian-born financial backer heads towards insolvency.
Gupta has built a substantial global empire of steel and aluminium manufacturing, as well as a growing portfolio of green energy projects as part of a substantial shift to low emissions manufacturing, including a $1 billion plan to build renewable energy facilities in Australia to power the company’s steelmaking operations.
23 February 2021
APA Group has told shareholders that it sees new growth opportunities in emerging clean energy markets, as the collapse in gas prices and lower production dents valuations of the company’s gas facilities, and a planned gas generator remains stalled due to Morrison government delays.
APA is one of Australia’s largest owners of gas infrastructure, including a portfolio of more than 15,000 kilometres of natural gas pipelines, but has recently branched out into the clean energy sector, with investments in wind and solar power stations, as well as hydrogen production facilities.
The gas producer told shareholders that it expects to play a substantial role in the Morrison governments ‘gas led’ recovery while also acknowledging that the company would need to look to alternative markets for growth.
16 February 2021
The federal Labor opposition will seek to block many of the Morrison government’s proposed changes to the Clean Energy Finance Corporation that would see the green bank opened up to investments in fossil fuel projects, and would grant federal energy minister Angus Taylor new powers to direct its investments.
Taylor, also the emissions reduction minister, introduced the legislative amendments in August to establish the $1 billion Grid Reliability Fund, which the Morrison government intends to use to finance planned investments in new gas and energy storage projects shortlisted through the stalled Underwriting New Generation Investments (UNGI) program
Debate on the legislation finally commenced in the House of Representatives on Monday.
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NSW power projects embroiled in political wrangle
Feb 15, 2021 – 12.00am
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Plans by AGL Energy and EnergyAustralia for new gas-fired power stations in NSW are hanging by a thread amid behind-the-door debate between the state and federal governments on potential support measures from which they are currently excluded.
AGL’s proposed 250-megawatt gas peaking plant north of Newcastle and EnergyAustralia’s Tallawarra B project on the NSW South Coast were both put on hold after the surprise release in October of the NSW government’s energy infrastructure road map, which will change the market dynamics for new generation projects.
The Tallawarra B plant would be built next to EnergyAustralia’s existing generator at the site.