- The Grid Scale Storage Fund supports the construction of new energy storage projects in South Australia, provides for the significant expansion of Neoen’s Hornsdale Power Reserve and supports the expansion of Tesla Virtual Power Plant.
- This fund is for proposals utilising pumped hydro energy storage, hydrogen and natural gas storage, bioenergy, solar thermal and battery storage.
- The fund will assist in leveraging South Australia’s world-class renewable energy assets, as well as the engineering and technology expertise within our business and investment community.
- It reinforces South Australia's reputation as a hub for the manufacture of household battery and energy storage systems, whilst also improving affordability, reliability and security of electricity supply.
- Applicants also have the potential to obtain co-funding from Australian Renewable Energy Agency (Advanced Renewables Program).
- The State Government is contributing $50 million to this jointly funded initiative.
17 Jun 2021 3:13 am