This Month
Moody’s downgrades Macquarie’s UK water company to junk
The ratings agency said Southern Water’s poor performance made it especially vulnerable to political, regulatory and financial pressures on the wider sector.
- Hans van Leeuwen
October
Offshore wind ambitions in disarray as key players walk
Moves by Origin Energy and Norway’s Equinor have exposed big doubts about offshore wind developing anywhere in NSW, given high costs that are only modestly lower than for large nuclear plants.
- Angela Macdonald-Smith
September
Mining, infra water services provider Vysarn raising to fund M&A
Vysarn would pay $24 million cash and 10 million of its own shares upfront, with another 30 million shares due down the line if CMP hits EBITDA-related targets.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Pemba Capital makes a splash with Sequana
The mid-market private equity shop has taken a majority stake in water advisory business Sequana, marking the firm’s fourth investment this calendar year
- Sarah Thompson, Kanika Sood and Emma Rapaport
July
Macquarie-owned water company faces $103m fine
Britain’s water regulator said Southern Water is too heavily geared, and must pay a fine if it doesn’t improve its “inadequate” business plan.
- Hans van Leeuwen
February
BHP poised to strike mega water deal, turbocharging copper mining
A desalination plant agreement with the South Australian government would come as the miner grows more confident of boosting production at nearby operations.
- Peter Ker and Simon Evans
January
King moves to remove ‘ambiguity’ in offshore gas approvals
The gas industry wants changes to regulations on consultation for offshore projects to prevent them being manipulated and delayed by green activists.
- Angela Macdonald-Smith
Teals back Plibersek, urge Vic to find alternative to Port of Hastings
Teal MP Zoe Daniel says Victoria should consider alternatives in Geelong and Tasmania that would have less environment impact than the Port of Hastings.
- Gus McCubbing
PM promises funding for Queensland tourism, Victoria demands flood aid
Prime Minister Anthony Albanese is inspecting flood damage in two states as clean up efforts continue.
- Andrew Tillett and Gus McCubbing
- Analysis
- Renewables
Tanya Plibersek’s wind farm veto explained
The federal environment minister said the dredging and drilling to build the hub would cause irreparable harm to threatened sea creatures, plants and ecosystems in Western Port Bay.
- Ben Potter
‘We wouldn’t do it for a coal mine’: Libs back Plibersek in wind fight
The federal opposition has sided with Environment Minister Tanya Plibersek against Victorian Premier Jacinta Allan in a fight over offshore wind energy.
- Gus McCubbing and Angela Macdonald-Smith
- Updated
- Renewables
Victoria suggests wind power before wetlands: Allan
Victorian Premier Jacinta Allan said the energy transition must take precedence over protecting internationally renowned local wetlands after a project central to its offshore wind plans was blocked.
- Gus McCubbing and Angela Macdonald-Smith
Gippsland wind projects shortlist takes shape, with wrinkles
Several investors will have to sort out overlaps in their proposals off Victoria, one of the world’s most promising regions, and reapply for licences.
- Angela Macdonald-Smith
December 2023
Barossa case ‘confected’ by green activists, Santos argues
The assertions came after the Environmental Defenders Office argued Santos’ Barossa gas pipeline would cause “incalculable” cultural harm to generations of Tiwi Islanders.
- Updated
- Angela Macdonald-Smith
Santos secures drilling approval for Barossa gas project
The approval will allow Santos to resume drilling at the Barossa field in the Timor Sea, which it had to suspend last year after a successful legal challenge by a Tiwi Islander.
- Angela Macdonald-Smith
Woodside kicks off Scarborough seismic testing after approvals
The regulatory approvals stunned green groups and traditional owners and come as a Federal Court case against Santos relating to a separate gas project kicks off in Darwin.
- Angela Macdonald-Smith
November 2023
Directors urged to get advice as nature risk turns liability
A groundbreaking legal opinion says company directors who fail to consider the toll on nature could be in breach of their duty of care and diligence obligations.
- James Eyers
September 2023
Gas producers appeal for reforms after Scarborough ruling
The court decision has implications for sovereign risk in Australia and will drive up project costs and delay schedules, commentators said.
- Angela Macdonald-Smith
July 2023
Macquarie pumps another $1b into its UK water company
The fresh equity injection into Southern Water, which takes Macquarie’s investment to almost $3.3 billion, aims to meet the rising cost of a ‘turnaround plan’.
- Hans van Leeuwen
$2b won’t be enough to steady Thames Water, warns regulator
Thames has scrambled to secure fresh equity from shareholders but was plunged into crisis last week by the surprise resignation of its chief executive.
- Matt Oliver