December 22, 2022: Australia introduced monetary assistance on December 19 for seven new grid-scale battery initiatives nationwide, together with the retrofitting of a current BESS, with a mixed storage capability of 2GW/4.2GWh at a complete price of AUD2.7 billion ($1.8 billion).
Federal local weather change and power minister Chris Bowen stated the initiatives would share AUD176 million in conditional funding by means of the Australian Renewable Power Company’s (Environment) main spherical of battery Energy storage funding.
Environmental funding will embrace new BESS initiatives in New South Wales, Queensland, and South Australia. The funding will even assist in the retrofitting of the Huge Victorian Battery to supply the unit with grid-forming functionality.
The eight initiatives had been chosen from a shortlist of 12 introduced on July 6. The Environment acquired 54 expressions of curiosity for the aggressive funding spherical.
Environment stated every of the brand new lithium-ion battery initiatives will characteristic grid-forming inverter know-how to supply necessary system stability providers, historically offered by fossil fuels. Corresponding to coal and fuel and can symbolize a tenfold enhancement in electrical energy storage capability that types the grid operator of the Nationwide Electrical energy Market.
Environment CEO Darren Miller stated: “This pipeline of grid-forming initiatives will assist convey us nearer to an electrical energy grid that may assist 100% renewable power within the Nationwide Electrical energy Market.”