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Concept image showing solar panels, wind turbine generators, and battery storage in a cleared, gravel area with blue sky and clouds above.

Australia ranked third globally for attracting FDI in renewables

  • Article
9 May 2023

A new report from fDi Intelligence has ranked Australia the third most popular destination for foreign direct investment (FDI) into renewables in 2022. The report ranks Australia third in the world for attracting investment in green hydrogen. It says the country’s growing number of large-scale green hydrogen projects is a major reason for its top 3 ranking. The report also ranks Australia in the global top 10 for attracting FDI in wind, solar and batteries.

Cranes unload shipping containers at the Port of Melbourne

Australia strengthens green methanol supply chain for clean shipping

  • Article
5 May 2023

Australia has taken an important step towards a green methanol-powered shipping industry. The Port of Melbourne signed a Memorandum of Understanding with shipping lines Maersk and ANL and renewable energy companies to explore the feasibility of a refueling hub. "Decarbonisation of the maritime industry is really gaining pace. As Australia’s largest container port... it makes sense that we look at ways to work together with customers, service providers and producers to understand the needs of the market," Port of Melbourne CEO Saul Cannon said. The collaboration will explore the feasibility of transporting green methanol from production sites in Tasmania and Victoria to the port for storage and bunkering. Maersk has already ordered container vessels that will operate on green methanol.

Two wind turbine generators stand on the ridge of a small hill above a country landscape of dry grass and trees.

Works commence on Australia’s largest wind farm

  • Article
4 May 2023

Australia's largest wind farm, Golden Plains, will soon be constructed in the southern state of Victoria. The project represents an A$2 billion investment in Australia. Once completed, the 1,300 MW 215-turbine wind farm will generate enough clean energy to power over 765,000 homes and prevent more than 4.5 million tonnes of carbon dioxide from being emitted into the atmosphere each year. The wind farm will also feature a 300 MW battery storage facility. TagEnergy has signed all the necessary agreements for the 122-turbine first stage to begin. The first stage of the project is expected to start producing green energy in 2024 and be completed in 2025.

Two men in suits sitting at a table, each sign a MoU document while two men stand behind them observing the signing.

SFA and Austrade launch program to strengthen fintech collaboration

  • Media release
4 May 2023

The Singapore FinTech Association (SFA) and Austrade have signed a memorandum of understanding (MoU) to boost fintech trade and investment flows as well as business-to-business engagement between the two nations. The signing of the MoU initiates Project Lorikeet, a new program that supports Singaporean fintechs’ expansion into Australia, and Australian fintechs that want to explore opportunities in Singapore. The MoU was signed by Shadab Taiyabi, President at SFA, and Stephen Skulley, Senior Trade and Investment Commissioner at Austrade Singapore.

A word cloud graphic based on hydrogen

Australia’s growing green hydrogen industry

  • Article
28 Apr 2023

Australia has potential to become a global leader in green hydrogen, according to an annual review of Australia’s clean hydrogen industry. The 2022 State of Hydrogen report highlights that with its abundance of natural resources, technical skills, and strong track record with international partners, Australia is well-positioned to seize the opportunities presented by the growing global hydrogen industry. In 2022, more than 100 Australian green hydrogen projects were announced, reflecting the country's increasing focus on developing a hydrogen economy. Minister for Climate Change and Energy Chris Bowen says, "By 2050, Australia's hydrogen industry could generate $50 billion in additional GDP and create more than 16,000 jobs in regional Australia."

A hand holding a marker pen with words associated with quantum technologies displayed in a word cloud

Australia invests in quantum talent through education and research funding

  • Article
20 Apr 2023

The Australian Government is investing in the country’s quantum industry capabilities. A total of A$4.6m in grants will be awarded to boost study and research in the sector. The grants aim to nurture the next generation of quantum technology specialists, building on Australia's position at the forefront of quantum research and development. “Australia is at the forefront of research and development in quantum technology, contributing to breakthroughs for more than two decades,” Minister for Industry and Science Ed Husic says. With 22 quantum-related institutions and eight universities performing above the international standard in quantum physics research, the funding will help attract and train the talent needed to deliver the 16,000 projected quantum-related jobs by 2040.

Concept image of hydrogen storage tanks with solar panels and wind turbines in the background

Australia invests in research and development for renewable hydrogen

  • Article
20 Apr 2023

The Australian Renewable Energy Agency (ARENA) has announced A$25 million in funding for research and development to advance Australia’s renewable hydrogen industry. The funding will be available for projects focused on improving production and exploring storage and distribution solutions. With the global push for a net-zero economy, hydrogen is emerging as a promising alternative fuel source that can significantly reduce emissions. The funding will help Australia build on its legacy of technological innovation, supporting local research sectors and building a clean and sustainable industry of the future. As global markets increasingly demand low-carbon products, Australia's investment in renewable hydrogen will be vital in driving the country towards a net-zero economy.

3 pieces of uncooked lamb meat on a kitchen bench with other ingredients.

Minerva Foods Australia invests A$400 million in Australian meat operation

  • Article
19 Apr 2023

Brazilian agribusiness giant Minerva Foods has made its second investment in Australia. Minerva Foods Australia has acquired Victorian meat processor Australian Lamb Company for A$400 million. The deal includes a meat processing facility and a boning room and sales and marketing hub. The investment is expected to generate 150 jobs and open up export opportunities, particularly in India and Saudi Arabia. In 2021, Minerva Foods invested A$48 million in 2 meat processing facilities in Western Australia.

Concept picture of two trains approaching a rail bridge over a river

Spanish construction giant FCC Group to invest A$245m in Australian rail project

  • Article
17 Apr 2023

Spanish construction giant FCC Group has been selected to deliver key parts of the A$10 billion Melbourne Airport Rail project. The rail link will connect Melbourne Airport to Victoria’s regional and metropolitan train network. FCC’s Australian subsidiary, in consortia with Winslow Infrastructure and McConnell Dowell, will build a 550-metre twin track rail bridge over the Maribyrnong River, among other work. FCC will invest A$245 million (€150 million) to develop the infrastructure, generating 282 jobs. The Australian and Victorian governments have committed A$5 billion each to deliver Melbourne Airport Rail. Work on the rail link has started and is due to finish in 2029.

A cityscape with cloud computing graphics overlaid

AWS to invest A$13.2 billion in cloud infrastructure in Australia

  • Article
17 Apr 2023

Amazon Web Services (AWS) has opened a second cloud Infrastructure Region in Australia. This new data centre cluster, known as the AWS Asia Pacific (Melbourne) Region, will see AWS invest A$2.2 billion in Melbourne, Victoria by 2027. This follows the opening of the AWS Asia Pacific (Sydney) Region in 2012. AWS says it plans to invest A$13.2 billion into both Infrastructure Regions from 2023 to 2027. The planned investment in both AWS Regions will contribute an estimated A$35 billion to Australia’s total GDP by 2027 and support around 11,000 FTE jobs.

Mining equipment and infrastructure with mineral ore in a pile.

Australia and Germany partner to boost critical minerals industry

  • Article
14 Apr 2023

Australia and Germany have teamed up to explore new opportunities in the critical minerals sector, as part of their efforts to meet their respective climate and energy goals. The partnership will allow Australia to leverage its vast reserves of critical minerals which are vital for renewable energy technologies and electric vehicles. The collaboration will help Australia grow value-added industries around critical minerals, including extraction, refinement, and recycling processes. Meanwhile, Germany will acquire knowledge about secure and reliable critical minerals supply for manufacturing and recycling. According to Minister for Resources and Northern Australia Madeleine King, “Deals like this are vital if the world is to reduce emissions.”

A number of offshore wind generators surrounded by ocean water

Norwegian energy company Equinor cleared to invest in Bass Strait wind farm

  • Article
13 Apr 2023

Norwegian energy company Equinor is poised to invest in an Australian renewables project planned off the coast of Tasmania. Australia's Foreign Investment Review Board (FIRB) granted Equinor initial approval to invest in the Bass Offshore Wind Energy (BOWE) project, a collaboration with Australian energy company Nexsphere. The project initially aims to install up to 70 wind turbines off the coast of Tasmania linking them to George Town in the state’s north. In addition to this deal, Equinor has plans to invest in other Australian wind energy projects. Last year, the company bought into three proposed offshore wind farms in New South Wales and it has a long list of future projects proposed across Australia.

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