The ACT Government is future-proofing Canberra’s energy supply by expanding its renewable energy storage with a new partnership with global specialist energy storage business, Eku Energy, launched by Macquarie’s Green Investment Group.
The Government has partnered with Eku Energy to deliver the next stage of the Big Canberra Battery with a large-scale battery storage facility in Williamsdale.
The Big Canberra Battery project will provide renewable energy security across the electricity grid, help the ACT grow its renewable energy sector, provide more local employment opportunities, and deliver a positive financial return for the Territory.
The battery project has a key objective of supporting the electricity grid during network outages, particularly in peak periods when the electricity grid can be under significant stress. It can back up the grid in just a few milliseconds, helping to prevent blackouts.
This 250-megawatt (MW), 500 megawatt-hour (MWh) battery energy storage system (BESS) is part of the Big Canberra Battery project and can store enough renewable energy to power one-third of Canberra for two hours during peak demand periods.
The BESS will cost between $300 and $400 million and will be developed, built, and operated by Eku Energy. Construction will start in late 2024 with completion expected in 2025.
Through an innovative revenue sharing arrangement, the Territory will receive a consequential share of the revenue from the battery’s participation in the ³Ô¹ÏÍøÕ¾ Electricity Market. The battery will also provide a range of energy and essential system security services. In exchange, the Territory will provide Eku Energy with fixed quarterly payments over a period of 15 years.
