Victoria planning massive battery
PERTH (miningweekly.com) – The Victorian government will build one of the world’s largest lithium-ion batteries at the Moorabool terminal station, to boost the state’s energy reliability, drive down electricity prices and support a transition to renewable energy.
The 300 MW Tesla battery, which will be installed by renewable energy specialist Neoen, will be ready by the 2021/22 summer, and would help reduce wholesale prices by storing cheap renewable energy and discharging it into the grid when it is needed most.
The Victorian Big Battery will create more than 85 local jobs and deliver over A$200-million in investment into the Geelong region, said Minister for Energy, Environment and Climate Change Lily D’Ambrosio.
“The big battery will help protect our network in summer, create jobs and drive down energy prices – as well as supporting our economic recovery from the coronavirus pandemic,” she said.
Neoen will pay for construction of the battery, as well as its ongoing operation and maintenance.
Consumers will pay for use of the battery through their power bills, but the reduction in wholesale energy prices delivered by the battery will mean that Victorians pay less for their power – with independent analysis showing that every A$1 invested in the battery will deliver more than A$2 in benefits to Victorian households and businesses.
D’Ambrosio said that Victoria is on track to meet its renewable energy target of 25% by the end of 2020 and the battery will make an important contribution to its targets of 40% by 2025 and 50% by 2030.
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