‘Baseload’ renewables coming to Australia

first_img FacebookTwitterLinkedInEmailPrint分享Renew Economy:Australia is currently experiencing an unprecedented boom in solar and wind energy investments, both in terms of capacity and dollars. It will likely take the country to a 33 percent share of renewables as early as 2020.But there is another fascinating development taking place–as more and more wind and solar is added to the grid, the shape of their output is also changing, and in a way that should give confidence about a clean energy future based around a high level of variable renewable energy sources.Two significant trends that are emerging: the first is the offering of “firming contracts” to those looking to source a significant amount of their supply from wind and solar, but wary of wholesale price risks when the sun don’t shine and the wind don’t blow. The second is the development of projects that do much the same thing but this time by the physical combination of wind, solar and some form of storage at the one site, or nearby. Proposals and projects are now emerging across the country.One of the first “solar firming” products came from TFS Green, who helped put together a package for ERM Power that takes the risk out of contracting with a solar farm. This is a product that simply seeks to manage the risk from variable solar output by providing price swaps. It allows a solar plant to provide a customer with a firm price for a flat load.Roger Price, the CEO of Windlab, also talks of fully dispatchable renewables–or, to borrow the parlance of the coal lobby, “baseload renewables”, with the Kennedy Energy Park inland from Townsville. The first stage of this project is being built now, combining 43 MW of wind, 15 MW of solar, and 4 MWh of Tesla battery storage. “It’s the perfect match,” Price says. “You get solar in middle of the day, the wind resource picks up as the sun starts to set, blows through night, then drops after the solar” emerges for the morning peak.And, of course, there is the Kidston project in North Queensland, not far from Kennedy, where Genex Power is looking to combine 270 MW solar and 250 MW of pumped hydro, with maybe 6-8 hours storage, and then add 150 MW wind power for good measure.More: The changing shape of wind and solar in Australia’s grid ‘Baseload’ renewables coming to Australialast_img read more

​Länsförsäkringar triples stake in green and sustainable bonds

first_imgSwedish pensions and insurance group Länsförsäkringar said it ramped up its investments in green and sustainable bonds last year, tripling its holdings in the debt type to over SEK9bn (€850m) – more than 7% of its total assets under management.Kristofer Dreiman, head of responsible investment at Länsförsäkringar, said: “The rapid move in 2019 has been possible because we are increasingly making our own direct investments in green bonds in the primary market.”He said that since the company had strengthened and focused its management towards this market, it had also been able to positively affect the return.Investments in green and sustainable bonds for the institutional portfolios in the firm’s divisions Länsförsäkringar Liv, Sak and Fondliv increased to SEK9.5bn at the end of 2019 from SEK3.2bn at the beginning of the year, the group said. Issuance of the green and sustainable bonds that the firm now holds is divided between companies, supranational and intergovernmental organisations, both local and global, Länsförsäkringar said, with the bonds coming from 90 different issuers.“We have a clear ambition to increase our proportion of climate-smart investments,” said Dreiman.He said Länsförsäkringar aimed to align its portfolios with the Paris Agreement’s goal of limiting global warming to 1.5°C by 2030.The firm also said an analysis showed most of the capital it had invested in green bonds had gone to issuers that intended to combat climate change, and to those targeting climate adaptation.last_img read more

Chase selected for ITO course in May

first_imgTHE Guyana Boxing Association (GBA) has chosen referee/judge Elton Chase to attend an International Technical Officers (ITO) course in May.Chase will attend the course in St Lucia and write an examination which, if he is successful, will make him the first AIBA-certified ITO from Guyana.GBA president Steve Ninvalle disclosed that Chase has been working tirelessly during the last three years and was Tournament Supervisor at two major international competitions held here last year.“Chase performed with distinction at the Caribbean Schoolboys and Juniors in August and the Caribbean championship in December. The Caribbean has less than a handful of certified ITOs and we are confident that Elton Chase, with his propensity for hard work, will soon join that distinguished group, Ninvalle said.Chase’s trip to St Lucia is part of an ongoing GBA plan to expose and upgrade local officialslast_img read more