Banpu Acquires 50% Stake in Victoria Battery Project

• EnergyAustralia and Banpu join forces to power 230,000 homes with the Wooreen Energy Storage System, boosting Victoria's energy future by 2027.

EnergyAustralia has sold a 50% stake in its 350-MW Wooreen Energy Storage System (WESS) project in Victoria to Banpu Energy Australia, a unit of Thai-listed Banpu Public Company Limited. Located in Hazelwood North, Latrobe Valley, the project began construction earlier this year and is expected to be operational by 2027. Once completed, the battery will supply power to 230,000 homes for four hours during peak demand.

The partnership will leverage Banpu's international expertise and EnergyAustralia's local knowledge, with EnergyAustralia continuing construction and later operating the WESS under a storage services agreement. This collaboration aims to deliver a world-class energy project benefiting the region and contributing to Australia's energy future.

How will the EnergyAustralia and Banpu partnership impact Victoria's energy storage capabilities?

• The partnership is expected to enhance Victoria's energy storage capabilities by adding a significant 350-MW capacity to the grid, improving energy reliability and stability.
  
• By supplying power to 230,000 homes for four hours during peak demand, the project will help alleviate pressure on the grid during high-demand periods, reducing the risk of blackouts.
  
• The collaboration between EnergyAustralia and Banpu will bring together international expertise and local knowledge, potentially leading to more efficient and innovative energy storage solutions.
  
• The project is likely to serve as a model for future energy storage initiatives in the region, encouraging further investment and development in renewable energy infrastructure.
  
• The partnership may accelerate the transition to renewable energy in Victoria, supporting the state's goals for reducing carbon emissions and increasing the share of renewables in the energy mix.
  
• The Wooreen Energy Storage System could provide ancillary services to the grid, such as frequency regulation and voltage support, enhancing overall grid performance.
  
• The project is expected to create jobs during the construction phase and ongoing operational roles, contributing to the local economy in the Latrobe Valley.
• By integrating large-scale battery storage, the partnership will help Victoria better manage the variability of renewable energy sources like wind and solar, ensuring a more consistent energy supply.