The battery will support the grid around an area of Victoria where demand fluctuates.
GMR Energy has begun development of a $330 million, 240-megawatt storage battery project on Victoria’s Mornington Peninsula, the first of six large batteries planned by the renewable energy developer.Developers are rushing to complete batteries amid concern about the stability of Australia’s grid.
GMR Energy, which is majority owned by Hong Kong real estate private equity firm Gaw Capital Partners, entered into an early works agreement with transmission network service provider AusNet to build the transmission infrastructure to connect the 240 megawatt/480 megawatt hour battery energy storage system facility to the grid.
“With the current supply chain issues meaning a significant bottleneck in the availability of transformers and other materials required, we have partnered with AusNet to commence early works and procure long-lead items.” The Mornington Peninsula battery – which will be funded with debt and equity – is the first of six major batteries planned by GMR Energy after the zero-emission developer struck a deal toThe developer has said the Mornington Peninsula battery will rely on energy arbitrage – charging up and storing energy when it is cheap and discharging it back into the grid when prices are high – and on supplying frequency and grid control services for revenue.
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