ACT to supply 200MW of wind power to Canberra at record low prices
Category: #energy-and-environment  By Pranali Mehta  Date: 2020-09-09
  • share
  • Twitter
  • Facebook
  • LinkedIn
ACT to supply 200MW of wind power to Canberra at record low prices

Canberra is reportedly ready to host two big battery projects amid a recent announcement made by the ACT government. The announcement comprises the supply of additional wind power capacity of a total of 200MW for the national capital at record low prices and also facilitates the development of big batteries within the ACT.

The ACT government has reportedly disclosed two successful bids from its most recent reverse auction, securing long term off-take contracts for the development of two 100MW wind power generation facilities with an additional capacity of 60MW of big batteries to be situated in the capital region.

As per sources, the requirement of the ACT government’s auction specified that only 20MW of overall battery capacity would be sought under the auction. However, Neoen decided to opt for the construction of a bigger asset, after the success of the Hornsdale power reserve situated in South Australia. The company is likely to take measures for the expansion of the facility to 150MW in addition to one or two hours of storage capacity.

Neoen will supply Canberra with 100MW of wind power capacity from the first stage of its extensive Goyder Renewables Zone located in South Australia and a 50MW battery situated in the ACT. Sources state that the auction price bid by the company is a record low for wind projects located in the country of Australia.

Neoen was granted an off-take agreement for a period of 14 years at the rate of $44.97 per MWh, state sources. While Global Power Generation, another successful bidder, has obtained an off-take agreement for a period of 10 years at $54.48 per MWh, the contracts are expected to function on a contract-for-difference basis depending on the NEM spot price.

As per reports, Global Power Generation will supply a wind power capacity of 100MW from the second stage of the Berrybank wind farm located in Western Victoria, in addition to a 20MWh/10MW battery that will be developed in the national capital.

 

Source Credits:

https://reneweconomy.com.au/act-secures-two-big-batteries-for-canberra-and-record-low-price-for-wind-27676/

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Mytheresa goes public in United States, becomes USD 2.2 billion company
Mytheresa goes public in United States, becomes USD 2.2 billion company
By Pranali Mehta

German online luxury retailer Mytheresa has reportedly secured USD 406.8 million during its initial public offering (IPO) in the United States. The company has now reached a valuation of USD 2.2 billion following the successful IPO. Sources confirme...

EBRD grants €26Mn loan to construct two wind farms in Poland
EBRD grants €26Mn loan to construct two wind farms in Poland
By Pranali Mehta

In a bid to accelerate Poland’s efforts to move to green energy, the European Bank for Reconstruction and Development (EBRD) has reportedly initiated the construction of two new wind farms across the region. In a statement by the bank, the EBR...

Turkey to impose advertisement ban on Twitter, Periscope and Pinterest
Turkey to impose advertisement ban on Twitter, Periscope and Pinterest
By Pranali Mehta

Reportedly, Turkey’s cosmopolitan capital Ankara has enforced a ban on advertisements on social media platforms such as Twitter, Periscope, and Pinterest after failing to appoint a local representative as per the country’s new social medi...