ASX Renewable Energy Stocks: Greens’ climate policy matches urgency of climate crisis
The Climate Council says the Australian Greens’ ‘Powering Past Coal and Gas’ climate and energy plan is the first policy that matches the scale and pace of action the climate science demands.
Any shot at limiting warming to 1.5°C requires drawing down significant amounts of greenhouse gasses from the atmosphere.
The Greens’ plan is setting out achieve 100 million tonnes of ‘negative emissions’ by 2040 – the only catch is, there is no elaboration on how this will be done.
Targets such as a complete phase-out of thermal coal exports by 2030 have been mentioned, along with intentions to slash Australia’s domestic emissions this decade and rapidly shift away from fossil fuel exports to clean exports.
Several innovative policy measures to get Australia there while supporting communities and industries have been stated, such as:
Tasmania’s Bell Bay and South Australia’s Port Bonython have joined the ranks of the nation’s hydrogen hubs.
The Coalition has said it would inject $70 million to help establish a hydrogen production hub at Bell Bay, which will include upgrades to water infrastructure, transmission networks and port works.
A simultaneous $218m commitment has been provided to the Port Bonython hub, which includes funding for associated development in Whyalla, Port Pirie and Port Augusta in SA, continuing the move towards a national network.
Australian Hydrogen Council CEO Dr Fiona Simon said Tasmania and South Australia have been at the forefront of moving their economies to a sustainable footing.
“This will be a real shot in the arm for both states’ employment and exports prospects,” Simon said.
“Continuing collaboration by the States and Territories and the Commonwealth is now an imperative.”
Vertically integrated renewable energy generation and retail company Delorean Corporation (ASX:DEL) has won a $45m contract for the design, construction, operation and maintenance of contract of Yarra Valley Water’s second food waste-to-energy plant at Lilydale, Victoria.
This new Yarra Valley Lilydale facility will accept and process an average of 150m3/day of organic waste using anaerobic digestion.
It will produce 1.25MW of electricity and supply the adjacent sewage treatment plant, and the co-located Recycled Water Pump Station, with surplus energy exported to the grid.
Consistent with all Delorean Corporation bioenergy plants, there is no incineration used. Anaerobic digestion is a natural process that converts organic waste to clean, green energy.
Under the terms of the contract, work has started on pre-site production and planning and subject to completion of planning, regulatory and ministerial approvals the project will proceed with full construction commencing on site in late 2022.
The project is the first Government contract and fourth major construction project for Delorean’s Engineering Division, following on from Delorean’s successful completion and commissioning of the Jandakot Bioenergy Plant in Western Australia, and the current construction of projects for Blue Lake Milling (a subsidiary of CBH Group) in South Australia and Ecogas in New Zealand.
Evolution Energy Minerals (ASX:EV1) has begun trading on the Frankfurt Stock Exchange under the code (FSE:P77).
The company plans to develop the Chilalo Graphite Project in Tanzania into a net zero carbon graphite mine, which EV1 anticipates will result in substantial investor interest from the increasingly regulated European continent.
Listing on the FSE is expected to increase Evolution’s international profile and provide European investors with an efficient, cost-effective means of investing in the company.
With the EU having declared graphite as a strategic critical mineral in 2017, EV1 managing director Phil Hoskins says the secondary listing on the FSE is expected to introduce investors who can see the role that Evolution can play in addressing the needs of European battery manufacturers.
“This move will provide exposure in a market that places a premium on clean energy and values the increasing importance of the development of resources projects in minerals such as graphite,” he said.