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Tesla plans to build a 300-MW/450-MWh battery storage system in Victoria, Australia, three times bigger than the once biggest battery the company had constructed, also in Australia.
The new facility will help Australia as it moves to transition away from fossil fuels and towards renewable energy and will have the capacity to power half a million households for an hour, according to a Financial Times report. The company will partner with French Neoen on the project.
"By securing one of the biggest batteries in the world, Victoria is taking a decisive step away from coal-fired power and embracing new technologies that will unlock more renewable energy than ever before," Victoria environment minister Lily D'Ambrosio said, as quoted by the FT.
The new battery will be built near the Lorne power plant, which is expected to be shut down in the near future, Australian media outlet 3AW reported, quoting a local NOG chief executive who added that the battery would work in conjunction with other power sources.
"It's not enough on its own," Jono La Nauze told 3AW Drive. "To replace the Lorne (power station) requires about 600 megawatts of battery. This gets us about halfway there."
According to the local government, the 300-MW installation will also help drive down electricity prices for Victorians while increasing the reliability of power supply.
"We know in the time of climate change, our summers are getting far hotter and much longer, so that means there is increased strain on our thermal generators," Minister D'Ambrosio said as quoted by ABC News.
"Our independent analysis shows for every dollar that is invested, it will present two dollars for every Victorian in terms of value," D'Ambrosio also said.
The contract for the project, signed by Neoen, is worth $84 million.
Three years ago, Tesla partnered with the French company to build what was then the world's largest battery, in South Australia, after devastating power outages in the province.
By Irina Slav for Oilprice.com
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Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.