Positivity around renewables

There have been quite a few positive moves in the renewable energy sector over the last few months. Some are:

  • Wave energy developer Carnegie Wave (ASC: CWE) has projects on the boil in the UK and Mauritius, where they are integrating wave energy into a revamped micro-grid for the island. This is on top of their fully operational energy to the grid project at Garden Island in WA. Now Carnegie has formed a partnership with Energy Made Clean, a private company with extensive experience in the global micro-grid market, including the ground breaking CSIRO square mile radio telescope array in Western Australia. The partnership complements and extends Carnegie’s capabilities.
  • Redflow (ASX RFX) have developed a safer more efficient battery technology made from fully recyclable components. The battery is based on zink bromide and could give lithium batteries a run for their money, especially where full and frequent use/recharge is required. Redflow’s ZCell home storage battery system was launched in March.
  • After a slow start, Genex Power (ASX:GNX) is advancing its combined 380MW hydro pumped storage and solar project at Kidston in Northern Queensland at a cracking pace. All Environmental and development approvals are in place with financial assistance received from ARENA.
  • The value of Large Scale Generation certificates have tripled over the last year. This could partly explain the almost tripling of the shareprice of solar and wind project owner Infigen Energy (ASX: IFN). Infigen is also rapidly reducing its large borrowing portfolio, funded by strong internal cashflow and the recent sale of its wind assets in the USA.
  • Next generation LED light developer BlueGlass (ASX: BLG) has a number of new contract in place for the  commercialization of its technology, including the recently announced exclusive agreement with Lumileds, a subsidiary of lighting giant Phillips. Blueglass’s shareprice doubled after this announcement.

It’s a heady time for renewable energy ventures. Of the above equities, only BlueGlass is not held by August Investments. All, excluding Infigen, are considered speculative.