Construction Begins on Elaine Battery Energy Storage Project in Victoria
Akaysha's Elaine Battery Energy Storage System in Victoria has commenced construction following a $460 million financing close. With a capacity of 300-311 MW/1,200-1,244 MWh, it aims to stabilize the grid amid Australia's shift towards renewable energy.
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Construction of the Elaine Battery Energy Storage System (BESS) in Victoria has officially started, backed by a $460 million financing package. The project has a capacity of 300-311 MW and 1,200-1,244 MWh, designed to deliver up to four hours of energy storage, playing a crucial role in grid stability as coal generation diminishes and renewable energy uptake increases.
Located near the Elaine Terminal Station, it will utilize existing infrastructure for cost-effective and expedited deployment. A 15-year virtual tolling agreement with Snowy Hydro ensures stable revenue while allowing operational flexibility in the electricity market. This project exemplifies the growing reliance on large-scale battery systems to balance intermittent renewable generation.
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