Neoen inks 70MW Australian offtake agreement

Apr 14, 2022 07:04 PM ET
  • The French designer authorized a deal with AGL Energy to offload power from its 100MW Capital Battery
Neoen inks 70MW Australian offtake agreement
Image: Neoen

Neoen has actually signed a seven-year agreement to offer 70MW of energy from its 100MW Capital Battery project in Australia to with AGL Energy.

The offtake deal will certainly give AGL Energy the ability to hedge its customer tons in the New South Wales area of Australia's National Electricity Market by practically charging and releasing the battery any time over five minute trading intervals.

It is ideally matched to managing the raising obstacles of the "duck curve" as well as night peaks dealt with by large electricity customers as well as retailers, Neoen said.

Construction of the Capital Battery commenced in December 2021 and also the asset is anticipated to start operating in the very first fifty percent of 2023.

The battery offer is an option created by Neoen to allow a huge electricity user or merchant to mimic a grid-scale battery, without needing to construct or own one.

Neoen stated it has also designed a bespoke and also committed user interface that allows the customer to submit live orders or utilize sophisticated predesigned send off techniques.

Neoen Australia's managing director Louis de Sambucy claimed: "We are delighted to have AGL as our initial customer for this ingenious bespoke solution.

" The digital battery is an ideal firming device which will end up being a core Neoen product as well as a key element in the success of our increasing variety of customer offerings.

" With the Capital Battery presently unfinished, we will certainly quickly be running grid-scale batteries in three of the five states of the National Electricity Market and also have multiple storage space projects in advancement across Australia."

AGL Energy Chief Operating Officer Markus Brokhof claimed: "As we continue with our plans for an organized and also responsible energy change, we understand the need for flexible capacity that meets the energy needs of our customers to guarantee they continue to have accessibility to budget friendly and trusted energy.

" Neoen's solution matches our demands completely.

" Our aim is to strike an equilibrium between conference Australia's current as well as future energy requires while transitioning in a responsible way.

" AGL's energy change will be powered by technologies like this, bringing flexible capacity into the marketplace as well as supporting boosted investments in renewable energy, allowing us to prioritise customer supply while we make progress in the direction of web no."

Neoen stated it has a battery storage space portfolio of 576 MW in operation or unfinished in Australia.

The firm added that along with the Capital Battery, it likewise owns and runs the recently completed 300MW Victorian Big Battery in Geelong and also the 150MW Hornsdale Power Reserve in South Australia.



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