Feb 25, 2018 Last Updated 10:02 AM, Feb 23, 2018

New Entry From the Editor :

Australia slips to second place in mining investment attractiveness ratings

Australia slips to second plac…

AusBN - Australia has fallen to second place in the Fraser Institute’...

Wesfarmers reports 87% H1 profit plunge on business write-downs

Wesfarmers reports 87% H1 prof…

AusBN - Wesfarmers (ASX:WES) has reported an 86.6% nose-dive in its H1 net ...

Australian female labour force participation reaches record high

Australian female labour force…

AusBN - Australia’s female labour force participation rate reached a ...

Australia generates 3GW of wind power

AusBN – Australia achieved record wind power generation on Tuesday morning, generating 2,988 megawatts of output in the National Electricity Market which excludes some areas.

This implies a total output exceeding 3,000 megawatts when combined with wind power generated in Western Australia and other remote grids.

The National Electricity Market has a total capacity of 3,766 megawatts but until now the highest proportion of it used was 2,848 megawatts on 16 December 2014.

South Australia generated the most electricity from wind on Tuesday, outputting 1,066 megawatts, while Victoria came in a close second with 1,021 megawatts.

Australia’s largest wind farm contributed 388 megawatts on its own.

A recent study showed that wind power could generate up to 30% of Australia’s electricity by 2025 if new turbines continue to be installed at the current pace.

@AusBNOnline

Inpex starts oil production in Australia

AusBN – Inpex Corporation subsidiary Inpex Alpha has started producing oil from its Coniston Oil Field in offshore Western Australia.

The oil field covers 45 kilometres squared in the WA-35-L and WA-55-L blocks where the water is 380 metres deep.

Inpex is also engaged in oil production at the Van Gogh Oil Field, which is 6 kilometres north of the Coniston field.

The Coniston Oil Field is operated by Inpex’s 52.5% partner on the project, Apache.

Average production at the field during its first year is expected to reach 18,000 barrels of oil per day.

@AusBNOnline

Vector to bring Tesla batteries to NZ

AusBN – New Zealand’s top electric company Vector (NZX: VCT) has partnered up with Tesla to bring energy storage solutions to the homes and businesses in the Asia-Pacific region.

Vector will offer Tesla’s new consumer batteries to customers in New Zealand and possibly Australia, becoming the first electricity network operator to give its customers options for solar and storage.

 Vector CEO Simon MacKenzie said the partnership was “the start of a significant change in the energy industry”.

He added: “Tesla is the largest producer of batteries in the world, as well as the most cost-effective, and this strong relationship will allow us to take it to the next level across the country.”

Mackenzie said that the Powerwall batteries would create energy storage opportunities for community groups, renters and low-income households.

@AusBNOnline

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