British clean energy developer Octopus Investment has acquired two battery development projects in Australia, including the largest planned battery project in the nation.
Octopus Australia has acquired the Hanworth Battery Energy Storage System (BESS) in New South Wales, as well as the Dunmore Solar Farm and Battery project in Queensland.
The 1.2-gigawatt (GW) / 4.8 gigawatt per hour (GWh) Hanworth Battery, acquired from Australian energy developer Enervest, will be capable of storing and delivering enough electricity to power more than half a million homes during peak hours in the evening. The battery will be connected to Transgrid’s Bannaby Terminal Station.
Meanwhile, the solar-battery development at Dunmore will act as a hybrid engine, combining a 300 MW solar farm with a 150 MW / 300 MWh battery system.
Octopus acquired the project from Samsung C&T Renewable Energy Australia (SREA) in the company’s first renewable energy transaction in Australia.
Octopus Australia CEO Sam Reynolds said the company’s continued investment demonstrated confidence in Australia’s energy sector at a time when new renewable energy investments in the country were slowing down.
“While some investors are stepping back, we’re stepping forward,” Reynolds said.
“Australia still needs new power stations to replace ageing coal plants. The difference is that today we can build them using a mix of solar, wind and batteries instead of smokestacks.
“By owning and operating our projects as one portfolio, we can deliver reliable power every day of the year – not just when the sun shines or the wind blows. This is about replacing coal with clean energy that works in the real world.”
With around 75 per cent of Australia’s coal-fired power stations due to retire within the next nine years, the task of delivering large-scale replacement supply has become a national priority.