Daily Newsletter

24 August 2023

Daily Newsletter

24 August 2023

Wärtsilä and AGL complete 250MW BESS facility in Australia

The facility will have the capacity to power 75,000 South Australian homes for one hour.

Umesh Ellichipuram August 23 2023

Finnish firm Wärtsilä and AGL Energy have concluded the construction of the 250MW/250MWh Torrens Island grid-scale battery energy storage system (BESS) in South Australia.

As the second-largest operational battery in the country, the BESS facility will be able to power 75,000 South Australian homes for a period of one hour.

The battery has the scope to extend this duration to four hours in the future.

Wärtsilä Energy storage and optimisation vice-president Andrew Tang stated: “Australia’s energy transition is all about balance. Wärtsilä is partnering with AGL to help balance the intermittency of renewables and provide flexible energy capacity while reducing their operational and lifetime costs.

“This landmark project is helping Australia take a major step towards a 100% renewable grid and its net zero emissions target. We’re proud to say our energy storage system is helping to maintain reliable and affordable electricity for South Australians.”

Balancing the energy generated by the renewable energy source, the battery also provides stability and reliability to the grid.

The project also supports the country’s decarbonisation goals.

AGL CEO Damien Nicks stated: “This is a significant milestone in AGL’s transition journey as we continue to accelerate the build-out of up to 12GW of renewable and firming capacity by 2035, playing our part in Australia’s energy transition.

“We are taking action to deliver on our transition goals – this battery was constructed within 18 months – a great example of what can be achieved when government, regulators and the private sector are all working together.”

ESG 2.0 will be less forgiving of poor ESG performers, especially on environmental issues

While ESG 1.0 was driven by voluntary corporate action, ESG 2.0 is being driven by a new wave of government policies. A host of new environmental laws are in the pipeline, relating to mandatory reporting, carbon pricing, and carbon import tariffs, as well as more state support and investment in clean energy technologies. Companies unprepared for ESG 2.0 face higher costs and lost sales.

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