Australia is preparing for the emergence of a 150 MW electrical storage center.
The project is being led by Macquarie’s green investment arm, Engie and Fluence Energy.
Australia aims to increase its renewable energy capacity
The project will be built on the site ofEngie ‘s former coal-fired power station in Hazelwood, Victoria.
Construction has already begun, and the aim is to complete the work by November 2022. Fluence will operate the plant for 20 years, using its Gridstack battery system.
A first for Australia.
The three companies jointly declare that the project will increase Victoria’srenewable energy capacity.
It would also provide greater stability for the electricity grid.
This would provide the country with back-up power for the summer months.
During this period, Australia often experiences heatwaves and unexpected power cuts.
Lower storage costs
Augustin Honorat, Managing Director of Engie Australia and New Zealand, notes that battery prices have fallen by 50% over the last three years and are set to fall further.
This means that the cost of the project is attractive.
It would cost no more than AUD 107 million, or less than one million per megawatt.
This would compensate for rising electricity market prices.
Opportunity for Engie
Engie wants to make the transition from coal production to energy storage.
The fact is, the Hazelwood site has a transmission capacity of 1,600 MW.
In this way, the project would enable Australia to develop its green energy capacities.
It would enable Engie to make progress in its future markets, and Fluence Energy to develop its technologies.
