The State Government has opened a two-week Expression of Interest period for national and international companies interested in building Australia’s largest grid-scale battery in South Australia.
The project will be the first financed by South Australia’s newly-created $150 million Renewable Technology Fund.
The battery must have a capacity of approximately 100MW and be operational in time for this summer. The private sector will own, operate and maintain the battery.
The grid-connected battery will help store renewable energy from the wind and the sun and provide South Australians with the storage capacity they need at times of peak demand.
The presence of the battery will also increase competition in the local energy market, helping improve system security and put downward pressure on prices.
Australia’s largest grid-scale battery is part of the State Government’s $550 million energy plan South Australian Power for South Australians.
The Renewable Technology Fund will provide $75 million in grants and $75 million in loans to eligible projects to support private innovative companies and entrepreneurs.
The Fund will also be available for other large-scale renewable projects including solar thermal, biomass, hydrogen and pumped hydro.
Grid-scale battery storage is at the cutting edge of renewable energy technology, with costs falling and capacities increasing.
The technology allows for the storage of power from the wind and sun during times of low demand for usage at times of higher demand.
Quotes attributable to Premier Jay Weatherill
We said our plan to take charge of South Australia’s energy future starts now, and we mean it.
In recent days, we’ve seen South Australia attract international attention for our world-leading approach to next-generation of renewable technology.
Over the next fortnight, we’ll test the market to hear what national and international companies have to offer.
Building Australia’s largest grid-scale battery will help build our reputation for high-tech industries.
Quotes attributable to Energy Minister Tom Koutsantonis
This grid-scale battery will modernise South Australia’s energy grid and begin the transformation to the next generation of renewable energy technologies.
Introducing grid-scale batteries mean renewable energy can be stored 24 hours, 7 days a week.
If the wind is blowing in the middle of the night, we can use that power when people wake up.
The State Government is setting ambitious timeframes to build Australia’s largest grid-scale battery, but we believe these timeframes are achievable.