As part of Victoria’s ambitions to reach 50% renewable energy by 2030, the state is investing in cleaning up the grid. The latest announcement from Neoen Australia, confirms Tesla as the successful candidate to supply the big battery.
Tesla continues to be successful in Australia, playing a part in many renewable energy projects, across a number of states, after famously entering Australia with the Big Battery in South Australia.
Neoen is a France-based energy company that owns and operates solar and wind farms in 13 countries on four continents.
“We are delighted to announce that the Victorian Big Battery has reached this important financial milestone.
I would like to thank the CEFC for their renewed trust and commitment towards supporting innovative storage solutions.
We are on track to deliver this project before the next Australian summer and are looking forward to playing our part in helping Victoria reach its ambitious target of 50% renewable energy by 2030.”Neoen Australia managing director Louis de Sambucy
The 350MW / 450MWh utility-scale battery storage will gain funding from the Clean Energy Finance Corporation to the tune of $160 million. This will providing a critical boost to the state’s grid security while driving down power prices and supporting more renewable energy.
The project will leverage Tesla MegaPack, along with their Autobidder software to sell power into the grid. Autobidder is one of Tesla’s most underappreciated products from the company.
Autobidder allows companies like Neoen to autonomously monetize battery assets. Autobidder is a real-time trading and control platform that enables the stored energy in the Tesla MegaPacks to be sold into the market. This happens at a fraction of the speed (and cost) of traditional gas peaker plants that were put in place to improve the response times of the even slower coal-fired power plants. Tesla even references the success of the Hornsdale Power Reserve, on their Autobidder page.
Neoen estimates that the project will create more than 80 jobs during construction and six full time.
“Energy storage supports cost effective, reliable, clean electricity and is a key component of Australia’s transition to a low emissions economy. This project is a world-class example of how utility scale batteries can help electricity networks support a higher penetration of renewable energy.
The VBB will improve grid security by providing extra capacity during the peak summer months. It will also contribute to the dispatchable resources needed to underpin the increasing share of renewable energy that will make up Australia’s future energy mix.”CEFC CEO Ian Learmonth
It is expected to be operational for the 2021-22 summer.