News

Tesla CEO Elon Musk seems destined to become the world’s first trillionaire after shareholders approved his controversial pay-deal with the company that could be worth $US1 trillion ($A1.5 trillion) in company stock.

Ember said the world is on track to add record renewable capacity again in 2025.

Saudi Arabia has awarded 4500MW of wind and solar capacity worth more than SAR9bn under the sixth phase of its National Renewable Energy Program.

SunCable is seeking approval to build solar and battery arrays at the famous Muckaty station in the Northern Territory, which it says has potential to host up to 20 gigawatts of capacity to meet surging demand from data centres.

Tilt Renewables is poised to break Australia’s year-long wind investment drought after landing another major off take deal for one of its wind projects, and a multi-billion dollar refinancing facility from its banking syndicate.

The developer of what stands to be Australia’s biggest battery says the new breed of hybrid solar and storage projects starting to dominate the national renewables pipeline can power new and existing industrial energy needs at an “incredibly competitive” cost – and without government handouts.

IX Renewables and Asia Cement Corporation (ACC) have signed a cooperation agreement for the 180MW Rui Li 1 floating offshore wind project off the coast of Hsinchu.

Hitachi Energy acquires a minority stake in Shermco, a company recently acquired by private equity funds managed by Blackstone, strengthening capabilities to maintain the reliability and safety of North America’s power grid — In addition, Hitachi Energy is investing more than $1 billion USD in the organic expansion of its global Service business, developing new digital service solutions, like HMAX, and growing its workforce.

Iberdrola reported a 17% rise in net profit, excluding capital gains, driven by strong growth in its UK and US networks and record investment levels across key markets.

A consortium of TotalEnergies and Aljomaih Energy & Water has been awarded a contract by the Saudi Power Procurement Company to develop, build and operate a 400MW solar power plant in As Sufun, Saudi Arabia.