May 27, 2018 Last Updated 2:14 PM, May 25, 2018

New Entry From the Editor :

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Community starts up renewable energy co.

AusBN– Residents of the Northern Rivers Region of New South Wales aim to start up their own energy retailer focused on renewables and benefiting communities.

The company, called Enova Energy, will not only sell renewable electricity but also advise people on how to install their own solar or leave the grid entirely.

Parent company Enova Community Ltd has prepared a detailed prospectus for the energy retailer’s initial public offering (IPO) through which it will source the capital funding required to start the company.

Alison Crook, chairwoman of Enova Community Ltd, said events would be held to inform the community of the plans and attract their support.

“We want the community to find out more, and get involved in Australia’s first community renewable energy retailer,” she said.

“Our goal is to reduce carbon emissions by retailing renewable energy by encouraging and facilitating the development of local renewable generation.

“We aim to be a model for other communities in developing a renewable energy future.”


Opposition proposes 50% renewable target

AusBN – The Labor party is proposing a target to make 50% of Australia’s energy renewable by 2030, in a fightback against the federal government’s increasingly anti-renewables stance.

Opposition leader Bill Shorten said this renewable energy target would reduce pollution and electricity prices while creating jobs.

Speaking to reporters, he attacked Prime Minister Tony Abbot for introducing regressive policies including removing the carbon tax, cutting renewable subsidies and reducing the previous Renewable Energy Target (RET).

“There will be a clear choice at the next election between Abbott, who is stuck in the past and resisting renewable energy, and Labor, who is embracing the future in step with the rest of the world,” said Shorten.

“We think climate change is rea. We understand that Australians expect action.”

The Australian Solar Council predicted that Labor’s policies could create between 20,000 and 30,000 jobs in the solar industry, which currently employs about 18,000 people.


Buru Energy starts production at Ungani

AusBN – Australian oil and gas producer Buru Energy (ASX: BRU) has announced the start of commercial oil production at the conventional, onshore Ungani oilfield in Western Australia’s Canning Basin.

The Ungani oilfield, held by a joint venture between Buru and Mitsubishi, is expected to produce 1,250 barrels of oil per day initially and ramp up to a rate of 3,000 barrels of oil per day.

Buru Energy chairman Eric Streitberg said the cash flow from Ungani marked the “next chapter” in the Perth-headquartered company’s growth.

“Combined with our strong cash position, we have the financial strength to fund our aggressive exploration program and create further growth for shareholders,” he continued.

“We have the strong support of Government and Traditional Owners for our programs and an extensive and diverse prospect portfolio to drill. This is a privileged position for a company of our size.”


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