Energy Vault to build Australia's first 100% publicly owned clean energy project
The 100MW, two-hour battery energy storage system is a crucial part of the SEC Renewable Energy Park and is estimated to lower energy costs and generate job opportunities in Horsham.
Energy Vault chair and CEO Robert Piconi said: 'This publicly owned project is well-aligned with our mission to accelerate the clean energy transition through sustainable and efficient energy storage solutions and will play a pivotal role in ensuring the availability of renewable energy.'
Once completed, the battery will store energy from the project's 119MW solar farm, capable of generating approximately 242,000MWh of renewable energy annually, which is sufficient to supply power to 51,000 homes.
By storing renewable energy and releasing it during peak demand, the battery will contribute to reducing power prices and enable an additional 180MW of new renewables to be connected to the grid.
Preconstruction activities have already commenced on the site in Horsham, with the project on track for completion in 2027.
The construction phase is expected to create about 246 jobs, including 20 positions for apprentices, trainees, and cadets.
The project will connect to Victoria's electricity grid later this year and feature a 600MW big battery near Melton, which can store enough renewable energy to power 200,000 homes during peak times.
Profits generated by the SEC will be reinvested into Victoria to support additional renewable energy projects and help Victorians save on energy bills.
Victoria Minister for the State Electricity Commission Lily D'Ambrosio said: 'Building more renewable energy will make sure Victoria can continue to have the lowest wholesale energy prices in the market, push down energy bills and create good local jobs.
'We're excited to partner with Energy Vault to help deliver the battery for our first 100% publicly owned renewable energy project.'
"Energy Vault to build Australia's first 100% publicly owned clean energy project" was originally created and published by World Construction Network, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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