One of the world’s largest batteries is to be built in Victoria to boost reliability, drive down electricity prices and support the State’s transition to renewable energy.
The Department of Environment, Land, Water and Planning (DELWP) announced that the 300-megawatt battery was to be installed near the Moorabool Terminal Station, outside Geelong and was expected to be operational by the summer of 2021-2022.
Minister for Energy, Lily D’Ambrosio said the Victorian Big Battery would help reduce wholesale prices by storing cheap renewable energy when the weather made it plentiful and discharging it into the grid when it was needed most.
“With climate change resulting in hotter summers, demand for electricity is rising at peak times,” Ms D’Ambrosio said.
“At the same time, Victoria’s ageing coal-fired generators are becoming increasingly unreliable, creating a need for additional capacity to safeguard the State’s power supply,” she said.
Ms D’Ambrosio said renewable energy specialist, Neoen, had been contracted to deliver the battery and would pay for construction as well 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 ,” the Minister said.
She said to reduce the chances of unscheduled power outages over the summer months, the battery would reserve a portion of its capacity to increase the power flow through the Victoria-NSW Interconnector by up to 250 MW.
Ms D’Ambrosio said the battery would help lower electricity prices by storing cheap renewable energy; supporting solar and wind projects; as well as helping to deliver a more secure and modern energy system.
