Perth-based renewable energy technology developer Carnegie Wave Energy has won a $2.5 million grant from the Australian Renewable Energy Agency for a wave and solar power microgrid it aims to develop on Garden Island.
AGL Energy has forecast a lift in underlying profit for the current financial year while also announcing a near $600 million share buy-back and a higher dividend payout as it benefits from strong electricity margins.
Citation Resources has appointed KordaMentha as voluntary administrators, while the oil and gas company continues to pursue recovery of funds through a civil action against former director Peter Landau.
Onshore oil producer Buru Energy has secured a native title agreement to further develop its Canning Basin gas resources, two years after its plans for a fracking program in the Kimberley caused a stir.
Energy giant Woodside Petroleum has entered into an agreement to buy half of BHP Billiton's stake in the Scarborough offshore gas fields in the Carnarvon Basin for up to $US400 million ($A528 million).
A planned solar farm near Cunderdin will boost its capacity by 300 per cent due to its favourable economic potential, despite about a gigawatt of excess capacity available in the South West's electricity network
Costs would need to come down a further 25 per cent to breakeven at around $US40 per barrel of oil for the Browse LNG project to proceed, according to Woodside Petroleum managing director Peter Coleman.