New fund for RE in New Zealand: Venture capital company Pacific Channel has launched a new renewable energy development fund, named Fund V, to support the large-scale renewable energy and storage infrastructure projects of local renewable energy developer Kākāriki. The latter has a national portfolio of 7 wind, solar, and storage projects under development, including floating solar facilities. These are located near industrial centers and future high-demand users. Phase I of the portfolio comprises 4 GW of wind and solar, and 2.3 GW of storage capacity. The total pipeline exceeds 10 GW across both islands, providing geographic and technological diversity. Fund V will provide seed capital for the 7 projects with plans to invest in up to 18 more that are in the broader pipeline of Kākāriki. A joint venture (JV) between Australia’s Energy Estate, New Zealand’s Elemental Group and Tāmata Hauhā, and UK-based Regener8 Power, Kākāriki’s 600% Renewables vision envisions a country producing 6 times its current clean electricity consumption.
AUD 700 million for ARIF: Foresight Group-managed renewable energy fund, Australian Renewables Income Fund (ARIF), has raised AUD 700 million ($454 million) as debt refinancing for a portfolio of 10 operational renewable energy projects in Australia. Provided by domestic and international banks, including ANZ, Westpac, Mizuho, HSBC, and Bank of China, with RBC Capital Markets acting as a financial advisor to ARIF. Proceeds will be used to refinance existing project finance debt and support ARIF’s growing development pipeline. Its operational capacity currently totals 787 MW across wind, hydro, and solar assets.
3 GW partnership in Malaysia: Pan-Asian renewable energy platform Blueleaf Energy has announced a 3 GW solar and battery energy storage system (BESS) project partnership with Malaysian sustainability advisory firm Chemsain Sustainability in Malaysia. The 2 companies plan to establish this capacity in the Sarawak region. Under the framework, they plan to collaborate on onshore utility-scale projects, exploring opportunities over a 2-year period. It will contribute to the country’s National Energy Transition Roadmap (NETR) and Sarawak’s Post Covid-19 Development Strategy (PCDS) 2030, said the duo.
Banana Shire prepares for energy shift: Banana Shire Council in Australia’s Queensland expects to secure a significant share of contracts from over AUD 40 billion in large-scale energy projects proposed for the region under the state’s renewable energy zones (REZ) program. Queensland plans to add 22 GW of renewable energy capacity through 12 REZs. Callide REZ is expected to install 2.0 GW to 2.6 GW (see Queensland Ready With Renewable Energy Zone Roadmap). Callide is also the 1st declared REZ from the list. The council recently adopted the Callide REZ Procurement Strategy that identifies priority areas for Banana Shire supplier participation in renewable energy supply chains. The council sees the potential to exploit its local strengths in construction, maintenance, and fabrication for the projects. The strategy also sees future growth opportunities in solar frame production, battery assembly, and modular substations with targeted investment.
Maryvale solar project under construction: US-based electrical balance of system (BOS) supplier Shoals Technologies Group has officially broken ground on the 243 MW Maryvale Solar and Energy Storage Project in Australia’s New South Wales (NSW). The project involves PCL Construction as the EPC service provider while Gentari is the project owner. It will also deliver 172 MW of battery storage capacity. Shoals is supplying its string harnesses, SuperJumpers, and Super Combiners for the project.
Solar expansion for GB: Gardens by the Bay (GB), the horticulture and urban park in the middle of Singapore and the country’s national garden, has expanded its solar power capacity with 1,700 solar panels. This 1.08 MW capacity was installed by EDP’s subsidiary EDP Renewables APAC to help the park power its operations with clean energy under a power purchase agreement (PPA). The upgrade was carried out across the garden, including the Supertree Grove, and new sites such as the Canopy and the Bayfront Pavilion. EDP says this solar project advances the renewable energy adoption and will future-proof the garden that’s home to over 1.5 million plants.
.png?w=50&fm=png){kind=logo}