Australian Govt Picks Eku Energy for Canberra's 500 MWh Big Battery Project

• The Big Canberra Battery project is a large-scale storage facility in Williamsdale. Eku Energy will certainly be accountable for building as well as operation of the project.
• The BESS project, secured at an expense of as much as $400 million, is slated for construction in 2024. It will certainly achieve completion the following year.

Eku Energy, which is the new international battery storage arm of Macquarie Group, has actually been picked by Australian Capital Territory government for Canberra's Big Battery project.

The Big Canberra Battery project is a large-scale storage facility in Williamsdale. Eku Energy will certainly be accountable for building as well as operation of the project. The BESS project, fixed at a price of approximately $400 million, is slated for building and construction in 2024. It will certainly achieve conclusion the following year.

The BESS (Battery Energy Storage System) will provide energy to one-third of Canberra for 2 hours during hours of peak demand by storing renewable resource.

The Chief Minister of the Australia Capital Territory Andrew Barr mentioned that battery storage modern technology is crucial for a future in net-zero emissions. He included that Big Canberra Battery has actually been presented with 3 goals- add jobs in the renewable resource industry, lead the way for a purposeful revenue stream for the territory as well as of course, augment energy safety and security for the residents of Canberra. "This contract provides on all 3," he claimed.

As for revenue sharing is worried, ACT will certainly get a part of the revenue from the battery's participation in the national electricity market. The battery will additionally provide a range of energy and also essential system security solutions. In return for this, the ACT will offer the firm quarterly payments for a duration of over 15 years.

The Chief Investment Officer at Eku Energy, Daniel Burrows shared that the company's engagement in the project lends support to the government's commitment to achieve net-zero emissions in the territory by 2045.

"The Big Canberra Battery represents a considerable landmark for Eku Energy as we celebrate our initial gigawatt-hour of battery energy storage in delivery in Australia," he claimed.

Eku Energy came into remaining in 2022 as well as boasts of a collective project pipe of 4 GWh with existence in Australia, Japan, Europe and the UK.

Big Battery has actually been obtaining a push in Australia. American investment empire BlackRock said in 2022 that it was aiming to spend $1 billion in big energy battery projects in Australia. The business consented to acquire Australian firm Akaysha Energy, which has nine projects attached to Australia's major grid.