Edify Energy 150MW/300MWh large-scale battery energy storage system financing completed
Edify Energy, Australia's leading renewable energy company, has completed construction and operational funding for the country's largest approved battery storage project. Tesla Megapacks will power 150MW/300MWh of battery storage.
The 150MW/ 300mwh battery storage system is located in southwest New South Wales. It consists of three subdivisions where Edify Energy will launch the largest utility-scale grid formation plant in the National Electricity Market (NEM), providing one of the most advanced energy storage systems in the NEM. It will help ensure the future stability of renewable energy in southwest New South Wales and can power 40,000 homes for two hours.
The storage systems will use Tesla Megapacks, one of the most advanced battery storage systems on the electricity market. They will be equipped with grid-tied inverters that operate in "virtual synchronous generator" mode. This will allow the storage system to use in the same manner as a conventional generator and provide critical system reliability services to facilitate the connection of future green power plants in the region.
Edify Energy CEO John Cole said, "We have long believed in harnessing the full power of power electronics and are ready to build a 100 percent renewable energy-based grid. Exciting equipment. In this case, we are combining the dispatchable nature of batteries with a new grid-connected inverter control system to create a generator that can provide power system support services traditionally provided by a thermo-synchronous generator."
Stephen Panizza, co-founder and head of renewable energy at Federation Asset Management Holdings, said, "Energy storage will be a cornerstone of the decarbonized grid. Federation is pleased to partner with Edify Energy to deliver the state-of-the-art Riverina energy storage system."
Anthony Miller, CEO of Westpac Institutional Bank, said, "As Australia transitions to a greater renewable and low-carbon energy future, clean energy technologies, such as utility-scale batteries, play a key role in ensuring grid stability. edify Energy and Federation Asset Management's proven track record on these projects, and the long-term acquisition agreement negotiated by Edify, make this an attractive and credible financing opportunity that Westpac is pleased to be a part of."
These state-of-the-art battery energy storage systems will be built on the traditional lands of the Wiradjuri, the most significant indigenous people in New South Wales, and Edify Energy recognizes that the Wiradjuri are the traditional custodians of the land and have a deep understanding of how to live in harmony with the environment. Construction of the project will begin shortly after that, under a contract for delivery of the facility by Tesla Australia. It will be completed in phases during the first half of 2023.
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