French independent power producer (IPP) Neoen has secured AU$1.4 billion (US$890 million) in capital to help fund energy storage and solar PV projects in Australia.

The first Capacity Investment Scheme (CIS) tender round in Australia successfully awarded 3.5GWh of co-located battery energy storage systems (BESS) as renewables-plus-storage projects.

French independent power producer (IPP) Neoen has agreed to sell its operational and development projects in Victoria, Australia, including the 350MW/450MWh Victorian Big Battery, for AU$950 million (US$610 million).

AEMO said that new energy storage capacity that has come online will play a key role in grid stability throughout the 2024-25 summer months.

Western Australia’s GreenTech Hub, dedicated to supporting emerging green technologies, will explore advanced energy storage systems as its first challenge.

Battery energy storage developer Eku Energy has completed the construction of the second-largest battery energy storage system (BESS) in the Australian state of Victoria.

“The projects in Australia are at a scale that is that is not seen anywhere else in the world,” Wärtsilä’s Andy Tang tells Energy-Storage.news

State-owned energy company Synergy has completed construction of its 200MW/800MWh Kwinana battery BESS in Western Australia.

Multinational utility and IPP Engie, has penned a virtual battery offtake agreement with developer Neoen for a portion of its Victorian Big Battery.

Energy generator and retailer Alinta Energy has penned an early contractor agreement for the 7.2GWh Oven Mountain pumped hydro energy storage (PHES) project in New South Wales, Australia.