Redback to Provide New Jobs in Queensland

Solar Panels

Premier Annastacia Palaszczuk said that Redback first started with three staff in Brisbane. However, due to the partnership and support from the Queensland Government, UQ, and the solar industry and private sector investors, the firm was able to increase its staff to 54, which includes 47 at its head office in Brisbane.

Premier Palaszczuk said, “Businesses like Redback have contributed to the 94,5000 new Queensland jobs created since January 2015 – the equivalent of 100 new jobs every day.”

Premier Palaszczuk also mentioned that Redback is centered on establishing inexpensive, smart energy alternatives for business and residential customers. Redback has already developed an inverter and battery storage test facility in Brisbane.

There are currently 21 test systems and they provide a testbed for the latest hardware and software being created in Queensland and will provide on-site training of the national installer network as well.

She added, “Redback are at the forefront of demonstrating that battery storage technology is becoming more affordable and highlighting opportunities for battery storage and intelligent energy management technologies for secure and affordable energy.”

According to Innovation Minister Leeanne Enoch, Redback already had two fundings from the government with a total funding of $1.96 million. She also said that the firm had received fellowship grants so the staff and resources could boost the development of smart grid capabilities.

Philip Livingston, the Managing Director of Redback Technologies, expressed, “Redback’s intelligent energy management solutions provide customers and businesses with the technologies that enable a reduction in energy costs and the increased integration of renewables into the grid. Redback’s success would not have been possible without the fantastic support of the Queensland Government and their leadership within the renewable energy industry in this State.”

For the complete report on this development, read the article here.

Windlab’s Kennedy Energy Park to Begin Construction Soon

Solar and Wind Farm

Windlab stated that the successful capital raising means that the financing arrangements for the initial 60 megawatts of the project were settled, and the project is anticipated to attain financial agreement and start construction soon after.

As Renew Economy reports, the productive capital raising signifies a valuable improvement for Australia’s wind energy which continues to attract private sector investors with its lower cost of power. The Kennedy Phase 1 is a 60-megawatt wind, solar, and storage hybrid plant situated in Hughenden in Queensland. The area was selected for its high and dependable wind resource utilising Windscape technology of Windlab.

Geoff Burns, the Project Director at Windlab, mentioned in his past comments, “Hughenden is almost unique in that it enjoys one of the best wind resources in Australia, co-located with one of the best solar resources. The (wind and solar) resources are highly consistent and complementary; when the sun sets the wind ramps up and continues through to the morning after the sun rises. It is this unique characteristic that will allow Kennedy to provide a near base load generation profile.”

The first stage of the project has an estimated cost of $120 million. The project is expected to gain support for a much larger deployment that could even involve over 1,000 megawatts of wind and solar power.

Roger Price, Windlab’s Chairman and CEO said in a statement last week, “We are delighted with the level of interest and support we have received from investors. It seems clear that investors understand that renewable energy will quickly become a very significant component of our energy generation mix.”

The location was already determined in 2013 and together with its partner, Eurus Energy Holdings Corporation, Windlab has obtained all essential development approvals. The first phase of the project is set to start operations late next year.

For the full report, visit this page.

AGL Energy Secures Off-Take Deal for Australian Wind

Wind Farm

On Thursday, AGL announced the deal with the Sunshine State wind farm on the $22 million sale of the project to the Powering Australian Renewables Fund has been finalised.

As Renew Economy reports, the deal includes AGL writing a PPA for electricity and related renewable energy certificates of less than $60 per megawatt hour for five years, with an alternative to prolong the agreement for another five years at the same, or even a lower, price.

AGL mentioned in a media statement that it anticipated the project to amount to approximately $850 million and funded by a combination of PARF partners’ equity and a group of lending firms which include Sumitomo Mitsui Banking Corporation, Westpac, Mitsubishi UFJ Financial Group, Societe Generale, Mizuho Bank, ABN Amro, and DBS Bank.

Following its first acquisition in November last year, AGL has handled to improve its portfolio by adding the 200-megawatts Silverton NSW wind farm in January this year.

Andy Vessey, the CEO of AGL, said, “More than 800 megawatts of projects have now been vended into PARF in its first 12 months of operation. The strong support we have received from our equity partners and lenders for these projects is a testament to the readiness of the private sector to invest in Australia’s energy transformation.”

However, Vessy admitted that public policy context remained important in order to maintain the momentum of the investors.

He added, “Certainty on energy policy, including the implementation of the recommendations of the Finkel Review, will enable more projects of this kind to go ahead and help place downward pressure on energy prices by increasing supply.”

To read the full report and to know what GE has to say regarding the project, visit this website.

CEFC Assists Thinxtra Boost its Network for the IoT

Laptop on desk

On its website, CEFC mentioned that Australian firm Thinxtra is utilising Sigfox Low Powered Wide Area Network (LPWAN) technology. The said technology is part of a global network that connects billions of devices to the Internet while using as little energy as possible, and as simply as possible.

The CEO of CEFC Ian Learmonth stated, “Australia is a vast country with a scattered population. A large amount of energy is expended in physically monitoring millions of pallets, waste containers, gas canisters, farm gates, livestock, and more. By providing a low-cost solution for tracking and monitoring these assets, we can save a huge amount of emissions.”

Learmonth further added that the funding for Thinxtra will aid in establishing valuable support technology that is about to play a major role in switching the Australian economy to net zero emissions by the second half of the century.

“We are talking about the potential to operate smarter cities, more energy efficient and livable buildings, better monitoring of environmental assets, better health monitoring, and more sustainable agricultural practices,” Learmonth said.

The $10 million investment of the CEFC is through the Clean Energy Innovation Fund and it will be part of Thinxtra’s $20 million Series B capital raising. Together with the CEFC and the Australian Renewable Energy Agency (ARENA), the Clean Energy Innovation Fund assist in boosting advanced clean energy technologies and businesses, both essential to Australia’s clean energy journey.

According to Blair Pritchard, CEFC Investment Development Director, a wide variety of devices that are presently available on the market can be operated more effectively through the LPWAN technology.

He added, “The proliferation of devices that enable remote monitoring, tracking and operation is transforming the way we live. However, connecting them to existing internet services can be a bit like using a four-lane highway when a footpath would suffice, or hiring a whole bus to send one person to the shops.”

To read the full story about this investment, visit this link.

CEFC Invests $2M in Wattwatchers’ Award-Winning Measurement Device

Volt Meter

Wattwatchers is an Australian cleantech that develops and markets “IoT for energy” hardware, firmware, and software solutions to precisely monitor, review, and manage electrical circuits in real-time over the
Internet.

Ian Learmonth, the CEO of CEFC stated that the expensive costs of energy and rooftop solar’s high domestic consumption give an opportunity to “work smarter with energy.”

“We are supporting the development of an innovative electricity market that hands Australian households and businesses the opportunity to get more control over the way that they consume and produce energy. Wattwatchers represents what we expect will be the first wave of innovative behind-the-meter technologies that can provide ongoing savings for householders and businesses, while delivering information that can also improve the security and stability in the supply of energy from the grid,” Learmonth said.

The investment of CEFC in Wattwatchers is part of the clean-tech firm’s $4 million 2017 Series A capital raising.

According to Blair Pritchard, CEFC Investment Development Director, the funding from CEFC would support Wattwatchers in boosting production volumes and lessening the production costs. “The Wattwatchers technology is small and very smart. The clamp-on internet device, working with a choice of cloud-hosted management interfaces, provides data that shows where and when energy is being consumed in real time,” Pritchard stated.

“We see Wattwatchers as a business that will complement other technologies to help Australians understand how they can consume energy at least cost. We also see real-time data access as an important development for rooftop solar owners looking to better manage their systems and on-site consumption. This means they can reap the most benefits from their own energy production, as well as storage and generation into the grid,” he added.

To read the full press release, visit this link.