Macquarie Group’s new world battery storage arm Eku Energy has been chosen by the ACT authorities to future-proof Canberra’s energy provide.
The subsequent stage of the Big Canberra Battery is a large-scale storage facility in Williamsdale, south of the town, to be constructed and operated by Eku Energy.
The battery power storage system (BESS) will retailer sufficient renewable power to energy one-third of Canberra for 2 hours throughout peak demand, and pour income into the federal government’s coffers.
Chief Minister Andrew Barr mentioned battery storage expertise was a essential part of the net-zero emissions future.
The BESS will value as much as $400 million, with development to start out in late 2024 for completion in 2025.
Mr Barr mentioned when he first introduced the Big Canberra Battery mission he had three goals in thoughts – develop jobs within the renewable power business, create a significant income stream for the territory and enhance power safety for Canberrans.
“This contract delivers on all three,” he mentioned on Thursday.
Eku Energy chief funding officer Daniel Burrows mentioned their involvement within the mission supported the federal government’s dedication to realize net-zero emissions within the territory by 2045.
“The Big Canberra Battery represents a significant milestone for Eku Energy as we celebrate our first gigawatt-hour of battery energy storage in delivery in Australia,” he added.
Since launching final yr, Eku Energy has a complete mission pipeline of 4GWh in Australia, Japan, Europe and the United Kingdom.
The revenue-sharing association means the territory will obtain a portion of the income from the battery’s participation within the nationwide electrical energy market.
The battery may even present a spread of power and important system safety companies.
In change, the territory will present Eku Energy with mounted quarterly funds over 15 years.
Source: www.perthnow.com.au
