According to The PV magazine, New South Wales has committed to reform the planning approvals process for renewable energy developments amid criticism that the current process isn’t fit for purpose and is slowing the state’s transition from coal-dominated generation to a renewables-dominated grid.
New South Wales (NSW) Planning Minister Paul Scully said the government is aiming for almost 50 large-scale solar, wind, and battery storage projects to be approved in NSW this year. “We have got a further 29 projects in the planning stage with an additional 20 projects expected to be submitted to the department or the coming months,” he said. “Most of these are expected to be determined this year.” https://www.pv-magazine-australia.com/2024/03/08/nsw-commits-to-improve-approvals-process-for-renewables-projects/
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According to The Australian Financial Review, Perth, Sydney and Adelaide are the most likely markets to outperform in the next 12 months with two out of five property valuers predicting house prices in those cities to increase by up to 10 per cent, a new poll shows.
More than three out of five valuers surveyed were also expecting house values to lift nationwide, and two fifths were forecasting as much as 5 per cent increase, CBRE’s inaugural Quarterly Residential Valuations Property Market survey finds. Valuers were also relatively bullish on the apartment sector with 44 per cent predicting prices to increase over the next 12 months. Apartments in Brisbane, the Gold Coast, Sunshine Coast and Sydney were likely to post the strongest price growth, with more than one out of seven valuers anticipating between a 5 per cent and 10 per cent rise. https://www.afr.com/property/residential/sydney-perth-and-adelaide-housing-markets-tipped-to-outperform-20240306-p5fa7e
According to The Asahi Shimbun, Osaka Gas announced its medium-term management plan for the three-year period beginning in fiscal 2024. At the same time, the company also revealed its goal of increasing ordinary income from the current level of around 150 billion yen to 200 billion yen in FY30. In addition to expanding its domestic thermal power generation and liquefied natural gas (LNG) wholesale business, the company plans to focus on its overseas business.
Energy companies are under pressure to shift away from fossil fuels amid the global trend toward decarbonization. However, Masataka Fujiwara, president of Osaka Gas, explained at a press conference, "For the next 20 years or so, thermal power generation using LNG will be important. While focusing on sales of electricity and LNG, the company will further prepare concrete measures for the future of energy during the three years of the mid-term business plan. https://digital.asahi.com/articles/ASS376DW2S37ULFA01M.html
According to The Jiji news, Uber Eats Japan LLC said that it will launch a food delivery service using an autonomous robot in Tokyo's Nihonbashi district, in an effort to address a shortage of delivery personnel.
Japan is the second country to see an Uber Eats robot delivery service, after the United States. https://sp.m.jiji.com/english/show/31644#goog_rewarded
According to The Australian Financial Review, J-Power, one of Japan’s largest energy utilities, has lobbed a $375 million bid to buy Queensland renewables developer Genex Power, 14 months after Scott Farquhar’s Skip Capital and Stonepeak Partners walked away from their own takeover proposal.
Shares in Genex, Australia’s only listed pure-play renewables developer, surged as much as 32 per cent on news of the move, the latest in a string of deals between major Japanese groups and local energy companies. While agreements have historically focused primarily on Australia’s natural gas and coal sectors, clean energy has shot up the investment agenda. J-Power already owns 7.72 per cent of Genex and is a lender to the company, whose biggest project is the $777 million Kidston pumped hydro venture in Queensland. It is also Genex’s 50 per cent partner in the Kidston Stage 3 wind and Bulli Creek solar and battery projects in northern Queensland. https://www.afr.com/policy/energy-and-climate/japanese-utilities-giant-lobs-genex-takeover-bid-with-50pc-premium-20240304-p5f9ho
According to The Asahi Shimbun, a test run of Japan’s first hydrogen hybrid train called Hybari was shown to the media on the JR Tsurumi Line in Kanagawa Prefecture.
The train, which runs on electricity generated from hydrogen, is part of East Japan Railway Co. (JR East)’s initiative to decarbonize railroads, with the aim of its commercialization in fiscal 2030. Hybari is equipped with a fuel cell, which generates electricity by having hydrogen react with oxygen, and storage batteries. It runs without emitting carbon dioxide. The hybrid train was jointly developed with Toyota Motor Corp., which markets the Mirai fuel cell vehicle, and Hitachi, which offers storage batteries. https://www.asahi.com/ajw/articles/15182593
According to The Australian Financial review, Australia needs $115 billion in capital to build enough new homes over the next four years to simply keep vacancy rates steady and not worsen, as the country’s chronic undersupply and rising population drive the next development boom, non-bank lender Qualitas says.
With the country needing an estimated 300,000 new homes – or 75,000 a year – over the next four years just to keep vacancy rates constant, that was the required capital, based on a median unit value of $638,000 and a loan-to-value ratio of 60 per cent, Qualitas boss Andrew Schwartz said. https://www.afr.com/property/commercial/australia-needs-115b-to-fund-new-housing-qualitas-says-20240215-p5f56w
According to The Jiji News, Nissan Motor Co. said that it aims to launch automated driving services in Yokohama, south of Tokyo, and elsewhere between fiscal 2027 and 2028.
Some other municipalities will also be chosen for the services. Nissan plans to set the service fees lower than taxi fares. https://sp.m.jiji.com/english/show/31531
According to The Jiji News, Japan's Aeon Co. and Marubeni Corp. said that they have concluded a deal to strengthen their cooperation from the food sector to newly cover digital transformation and decabonization.Trading company Marubeni also increased its equity stake in retail giant Aeon, although the number or value of the newly acquired shares was not disclosed.
https://sp.m.jiji.com/english/show/31476
According to The Australian Financial Review, ABEL Energy has sent out its bankers to find fresh backers, just as it gets cracking on its much-talked-about $1.7 billion Bell Bay Powerfuels project.
The Bell Bay Powerfuels project wants to ship 300,000 tonnes of “green” methanol production annually, starting in 2028. The three-part process uses renewable energy to produce hydrogen via electrolysis, while forestry residues are processed via gasification to generate syngas. Putting the two together produces methanol. Prospective bidders have been told to register expressions of interest by March 8 to receive an info pack. The sell-side advisers will collect non-binding offers in mid-April, and final bids would be due six weeks later, at the end of May. ABEL is hoping to have a deal signed by the end of the financial year. https://www.afr.com/street-talk/tasmania-s-abel-energy-preps-raise-for-1-7b-green-fuels-project-20240229-p5f8se |
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