Latest news with #energytransition
ABC News
6 hours ago
- Business
- ABC News
WA government braces for testing time from Greens after call to extend North West Shelf
WA Premier Roger Cook got his wish this week. Woodside's North West Shelf gas project can continue operating off the Pilbara coast until 2070, and he can finally get industry off his back. But don't ask him about the impact on climate. Mr Cook was waiting with bated breath for the outcome of the decision from Federal Environment Minister Murray Watt, who approved the project's extension. But green groups are not buying the reasoning for his support of the project — a bold claim about WA's gas. "Our gas is about providing the opportunity for the globe to decarbonise," Mr Cook said on Thursday. And it's something they're going to take him to task on. Mr Watt said he considered the potential impacts extending the life of the plant would have on the national heritage values of nearby rock art and the economic matters, but the act which governs environmental approvals does not include provisions to consider the climate change impact of a project. Which might explain why conversations regarding the climate have largely been pushed under the rug. The premier chose to focus more on jobs and the economy, dodging questions about the impact of emissions. "This saves literally thousands of jobs in Western Australia … and secures the future for Karratha," Mr Cook told reporters. Federal and state Labor agree gas is important and will play a large role in the energy transition. "In order to get that investment in renewables, you do need firming capacity, whether it be batteries, hydro or gas. And that is what will encourage that investment and the transition to occur," Prime Minister Anthony Albanese said on Thursday. Deputy Premier Rita Saffioti echoed a very similar sentiment on Friday. "This is all about making sure we get the balance right and making sure ... we also have the resources to continue to deliver affordable and reliable energy as we go through the transition," she said. But green groups reject those lines entirely. Greenpeace Australia Pacific's Geoff Bice thinks Mr Watt's decision could have provided a "step in earnest" away from fossil fuels — not towards. "At the end of the day, there's a competition on for the role of energy being between renewable energy and polluting fossil fuels," he said. "The decision to extend the life of the North West Shelf only makes that transition harder and pushes it out further both for our domestic economy and the regional economy." Protest after protest has posed the same question about Australia's role in bringing down global emissions — is the government beholden to gas giants? Or, as more informally put by federal Tasmanian Greens Senator Peter Whish-Wilson — do we have "a government that is in bed with big fossil fuel companies"? WA Mines Minister David Michael was asked on Thursday if both state and federal Labor are prioritising gas over traditional owners' cultural sites — namely nearby ancient Aboriginal rock art on the Burrup Peninsula (Murujuga) near Karratha, which traditional owners say will be "stripped" from them with this extension. "We're prioritising making sure we have gas in our system in WA to keep the lights on and to support industry," he said. The WA government might be supporting industry but it won't be able to dodge questions about climate — and the impact on traditional owners — much longer. Especially now with not one, but four upper house Greens MPs champing at the bit to hold it to account. New Greens MLC Jess Beckerling used Question Time this week to point out discrepancies in the executive summary of the Rock Art Monitoring Report released last Friday by the government — which studied the impacts of industrial air emissions on those ancient rock carvings at Murujuga. Referring to a line missing in a graph contained in the report, University of Western Australia professor of archaeology Benjamin Smith claimed the government "doctored" it. WA Environment Minister Matthew Swinbourn said the "graph in the summary document was simplified", but the pressure from the Greens is likely not done yet. And the headaches didn't stop there for the government. In some awkward timing, an interim UNESCO report released on Tuesday knocked back the Murujuga Cultural Landscape to the World Heritage list, citing concerns about emissions degrading the Aboriginal carvings. The draft decision called on the government to "ensure the total removal of degrading acidic emissions" — which might be a little hard to do now, until after 2070. "It is disappointing that the draft decision is heavily influenced by claims made in the media and correspondence from non-government organisations, rather than scientific and other expert evidence," Mr Watt said in a statement. Gas might be a balancing act for the federal and state governments, but one thing is certain — concerns about the climate are mounting and the pressure won't be letting up any time soon. So it best be prepared to answer tough questions.
Yahoo
a day ago
- Business
- Yahoo
Thai Deputy Prime Minister and Minister of Energy Visits GoodWe
SUZHOU, China, May 30, 2025 /PRNewswire/ -- In its global headquarters, GoodWe recently welcomed a high-level delegation from Thailand, led by Deputy Prime Minister and Minister of Energy Mr. Pirapan Salirathavibhaga. This visit was part of Thailand's broader initiative to promote clean energy and deepen industrial cooperation with China. During his visit, the Deputy Prime Minister remarked that he was impressed by GoodWe's growth over the past 15 years and expressed expectations for the company's continued contribution to the energy sector, stating he was "looking forward to its achievements over the next 15 years." GoodWe's CEO Daniel Huang and senior executives hosted the delegation and engaged in a meeting focusing on Thailand's energy transition, clean energy trends, and long-term collaboration opportunities. Mr. Daniel expressed great appreciation to the delegation for their visit, which he described as "an important milestone for GoodWe in fostering closer ties with Thailand's energy leadership" in his welcome remarks. Since entering the Thai market in 2014, GoodWe has established a strong local presence through strategic partnerships with major distributors and dedicated service support based in Bangkok. Its solar inverters and energy solutions have been deployed across residential, and commercial and industrial (C&I) applications, earning trust in a wide range of high-profile solar and storage projects. During the meeting, the Thai delegation expressed particular interest in GoodWe's roots in the residential market and its innovations in the C&I sector. They noted that while the Thai market has focused on C&I applications, it also presents increasing potential for residential solar adoption, making GoodWe's comprehensive solutions in this area valuable. The visit included a tour of the GoodWe Smart Energy Showroom, where the delegation was introduced to the company's latest innovations in photovoltaic and energy storage solutions, as well as its integrated approach to building a future-proof energy ecosystem that coordinates key components of the energy chain—power generation, grid, load, and storage—through smart control. Thai officials acknowledged the strong alignment between these innovations and Thailand's evolving energy strategy. "We are honored to support Thailand's clean energy transition and remain committed to delivering high-efficiency, safe, and smart energy solutions that power a sustainable future," said Mr. Huang, "With continuous investment in R&D across residential, C&I, and utility-scale applications, we aim to contribute to accelerate Thailand's smart energy transition and beyond." View original content to download multimedia: SOURCE GoodWe
Globe and Mail
a day ago
- Business
- Globe and Mail
Bunker Hill Mining Corp.: Reviving a Historic Mine for a Critical Metal Future
Zinc and silver production in Idaho's Silver Valley positions this miner for a strategic comeback Why This Matters Bunker Hill Mining Is Tapping into Critical Minerals for Energy Transition Bunker Hill Mining Corp. (TSX.V: BNKR, OTCQB: BHLL) is writing a new chapter for one of North America's most storied mines. Once a major producer of silver, lead and zinc, the historic site in Idaho's Silver Valley is being revitalized to meet the rising global demand for critical minerals. With a restart plan well underway and financing secured through a strategic partnership with Teck Metals, Bunker Hill is advancing toward production of zinc and lead-silver concentrates for processing in British Columbia. Zinc and silver are both on the U.S. Critical Minerals list, with applications spanning energy storage, battery technology, infrastructure, and solar manufacturing. The company is fully permitted and construction-ready, and is targeting a fast-track restart by leveraging existing infrastructure, modern technology, and its 95-year operational history. Bunker Hill's extensive data digitization, confirmed high-grade silver zones, and ongoing ESG practices add another layer of confidence in the mine's future. Key Takeaways Historic Revival: Bunker Hill is reviving a past-producing mine in Idaho's Silver Valley, once a prolific source of silver, lead, and zinc. Critical Metal Focus: Zinc and silver are listed as U.S. critical minerals, with growing demand from infrastructure, solar, and battery sectors. Strong Backing: A strategic partnership with Teck Metals provides capital and credibility for a swift transition into production. ESG Commitment: Bunker Hill is restarting operations with a focus on environmental responsibility and community revitalization. Production Path: The company will produce zinc and lead-silver concentrates for processing at Teck's smelter in British Columbia. Published by BTV - The Agency Discover Investment Opportunities with BTV. Delivering engaging content to Investors for 25+ years.
ABC News
2 days ago
- Business
- ABC News
Gas or hot air? Can Woodside lower energy prices and save the planet?
If it goes to full term, Australia's biggest ever resource project will pass the ton. This week, Woodside Petroleum was given the federal government green light to extend the North West Shelf venture — a gas project spawned in 1963 — by a further 40 years, taking it through to 2070. The environmental approval process for the extension, however, has taken on a life of its own. After more than seven years of negotiations and appeals, annoyed Woodside officials have become increasingly vocal in their criticisms of the ongoing delays. But on Wednesday, Woodside supremo Meg O'Neill, while her usual curt self, by her own admission was "delighted" by the proposed approval from the newly minted environment minister, Murray Watt. The project would, she said, provide the state with energy security, shore up domestic supply, keep international customers on a leash, aid the energy transition and help alleviate cost of living pressures. "We need to manage the pace of the energy transition," she told reporters at the post announcement press conference. She then homed in on the recent federal election campaign and the focus on living costs and particularly exorbitant energy costs. "Natural gas and the increased supply of natural gas is part of the solution to help bring those power prices down," she argued. Woodside has just over a week to agree to the conditions laid down by the federal government. But green groups are apoplectic, and all parties are bracing for legal appeals. But there are wider concerns, too. It's a well-worn argument from industry players. But it raises a couple of issues. Gas was always seen as a transition fuel, a stopgap measure to generate power during peak times as we weaned ourselves off coal during the renewable energy rollout. The Albanese government last year acknowledged the delays in building adequate renewable supplies and the extended role that gas will need to play as a result. But are we contemplating a delay that is likely to extend another 45 years? That's a timeline that doesn't quite gel with net zero targets by 2050. And what of the claims that all this extra gas will assist in reducing electricity prices? Australia already is one of the world's biggest gas producers and exporters. Why would even more gas production make any difference to local electricity prices? That's a point Josh Runciman, the lead analyst for Australian gas at the Institute for Energy Economics and Financial Analysis, has questioned. "The amount of gas that will actually flow from the North West Shelf extension into the domestic market is a key question here," he told ABC's The Business. Western Australia is the only state or territory to demand gas producers put aside a percentage of production for domestic use. But even that has its shortcomings. "Woodside is currently behind on its domestic reservation commitments," he said. "It's meant to supply 15 per cent of reserves. They're nowhere near that." The uproar over soaring energy costs mostly relate to the east coast dominated National Energy Market after gas exporters ran the system dry, sending electricity prices soaring. Western Australia, however, is neither connected to the National Electricity Market nor to the east coast network of gas pipelines, so extra production from the North West Shelf is unlikely to have any impact on electricity for most of the country. When it comes to emissions, gas might be better than coal but it's still a dirty fuel. It is the lesser of two evils. Much of Woodside's future production — the gas expected to continue providing feedstock for its giant Karratha plant — is expected to come from a new offshore development well to the north of the North West Shelf and the huge Pilbara based processing plant. Known as Browse, it too has been decades in the making. But there are technical issues with the gas in this field, with a high percentage of carbon dioxide. To extract that, and to remain in line with emissions commitments, it will need to be net zero from day one of its production. That will require an elaborate carbon capture and storage program that, ultimately, may limit the economic viability of the field. Already, there are concerns of a global glut of the energy source with planned major lifts in output from the United States, Canada, the Middle East and now Australia. Russia, meanwhile, which has the world's biggest gas fields, has been forced to divert supplies to China on the cheap after its invasion of Ukraine. Shikha Chaturvedi, the head of JP Morgan's global natural gas strategy, sees prices ultimately heading in just one direction. "We see a downward global LNG price trajectory with increased volatility, driven by a structurally oversupplied market," she told clients earlier this year. So, why would Woodside embark upon such a huge project? Mr Runciman isn't surprised. "When you look at declining markets, generally, companies will compete until it's last man standing and I suspect Woodside's move is part of that." Oil giants and tax revenue often are considered mutually exclusive terms, at least in Australia. While Norway and Qatar net huge sums annually, Australia has struggled to bring multi-national resource giants to heel, even with a Petroleum Resources Rent Tax. The Australian Tax Office has fought mammoth court battles against the likes of Chevron and ExxonMobil over unpaid tax. It's a delicate issue for Woodside, which this week noted: "Over four decades, the project has paid more than $40 billion in royalties and excise." While royalties are a cost of doing business, they are not a tax. They are payments for the right to exploit a resource owned by the state. That aside, Woodside is, however, one of the country's biggest taxpayers, forking out $814 million last year, $653 million the year before and $2.9 billion in 2022. But its payments under the PRRT scheme indicate the shortcomings of the regime. While it paid $890 million in PRRT in 2023, it last year received a $91 million benefit and a $313 million benefit in 2022. When the world began stepping back from hydrocarbons and petrochemicals as governments embraced zero emissions pledges, Woodside stepped forward. Two years ago, it took control of BHP's massive petroleum business, based mostly in the Gulf of Mexico. That ethos still pervades Woodside's ethos as it this week championed the North West Shelf expansion with the company arguing that without gas, we would need more coal. That's an idea that Mr Runciman rejects. It is renewables replacing coal, not gas, he said. "A sustained effort to focus on renewables would complement gas, not lead to additional coal." The question is whether we'll still be transitioning in 2070.
Asharq Al-Awsat
2 days ago
- Business
- Asharq Al-Awsat
Saudi Arabia's ACWA Power Signs MoU to Develop Renewables Capacity in Malaysia
Saudi Arabia's ACWA Power said on Thursday it had signed a preliminary agreement to develop up to 12.5 gigawatts of renewable energy generating capacity in Malaysia with an initial investment of up to $10 billion. The renewable energy utility said in a statement it agreed a memorandum of understanding with the Malaysian Investment Development Authority to explore developing the capacity by 2040. Malaysia wants renewable energy to make up 70% of its power mix by 2050. ACWA Power said it also signed strategic partnership agreements with several Malaysian companies for possible energy projects, including for large-scale water desalination. "These strategic agreements represent a significant milestone in ACWA Power's expansion in Southeast Asia and reflect our commitment to supporting Malaysia and the broader ASEAN region's energy transition," ACWA Power CEO Marco Arcelli said in the statement.
