GSEO Completes Hybrid Solar-Storage Project in Oz
- Victory Hill Global Sustainable Energy Opportunities (GSEO) completes phase 2 of the solar and storage hybrid system in Australia with the addition of a 4.95MW two-hour battery energy storage system. GSEO continues to optimize the grid connection for better renewable power availability.
Victory Hill Global Sustainable Energy Opportunities (GSEO) has completed phase 2 of their solar and storage hybrid system in Australia by adding a 4.95MW two-hour battery energy storage system (BESS) to its existing 17MW operational solar site in South Australia. GSEO will earn revenues from energy arbitrage and frequency stability services. Work is ongoing to optimise the grid connection of the battery system for the second site and additional co-located batteries will be installed on the company’s other three solar sites currently under construction in New South Wales which are expected to be commissioned in Q3 2023. Richard Lum, Co-CIO of Victory Hill Capital Partners, has noted the complexity of managing the grid and ensuring stability in the face of a high penetration of intermittent solar power generation in Australia, and the importance of increased energy storage for smoother availability of renewable power.
What Benefits Does GSEO Gain from Its Hybrid Solar System?
- Increased flexibility of energy supply, through balancing the solar power output with energy storage.
- Increased efficiency of the energy storage system, helping to reduce the cost of energy for consumer.
- Improved reliability of the system, with energy being stored at peak times for use during periods of demand.
- Reduced costs of energy storage systems, thanks to economies of scale and the ability to spread the cost over multiple sites.
- Reduced emissions, as the hybrid system will reduce the need for traditional energy sources to supplement the solar power.
- Increased revenues, as GSEO will be able to earn revenues from energy arbitrage and frequency stability services.
