South Australia calls for “the next generation” of renewable energy and energy storage projects
South Australia is calling for tenders from companies interested in investing in firming renewable energy, bulk energy storage and bioenergy projects having the opportunity to receive support from the $150m Renewable Technology Fund through grants and other financing tools.
Under the Firming Renewable Energy category, companies are invited to come up with proposal for projects that able to firm-up intermittent renewable generation, by adding, for example, energy storage, synchronous inertia or fast frequency response to semi-scheduled or non-scheduled generating units.
The Firming Renewable Energy projects will be located in existing solar or wind projects securing stability of the grid.
Bulk Energy Storage projects are expected to comprise the construction of plants providing significant energy storage capacity and synchronous inertia securing security, reliability and completion and also supporting further renewable energy developments.
Examples include pumped hydro, compressed air, solar thermal storage energy projects et al.
Bioenergy projects are expected to have a minimum 15MW installed capacity and are required to include storage facilities.
Premier Jay Weatherill said: "We want to support innovative companies and entrepreneurs in a state that is nurturing cutting-edge technology”.
Companies are invited to apply for funding from $150m fund, which is part of the Government’s ‘South Australian Power for South Australians’ Energy Plan- which will fund the construction of the world's largest lithium-ion battery by Tesla and finance partially the 150MW solar thermal plant in Port Augusta.
The fund includes grant funding and loans or other forms of investment for eligible projects.
Tom Koutsantonis, SA’s Energy Minister said that the country has a great potential for renewable energy sources and technology to exploit that opportunity efficiently is advancing exponentially.
“We have an opportunity to create investment and jobs in this space in South Australia for generations to come”, he said, adding that "Above all else, our aim is to deliver clean, reliable and affordable power for all South Australians”.
The news came days after Green Energy Markets, an Australian consultancy, published the first Australian Renewable Energy Index report, which found that currently, renewable energy projects are able to power 70% of Australia’s households.
The same report predicted that once the projects that are still being developed are completed, solar and wind energy projects will be supplying electricity to 90% of the country’s homes.
South Australia is committed to becoming the world’s leader in innovative renewable energy and storage technology, leading the way to the so-called “next generation” renewables era.
“I can’t wait to see some of the exciting projects which are accelerated as a result of investments from our Renewable Technology Fund”, Jay Weatherill remarked.
You can access the complete Investment Guidelines here.
Applications for funding are open until 5pm on Thursday 28 September 2017, and successful applicants will be notified before summer 2018.