Australian renewable energy firm, Maoneng has reportedly secured development approval (DA) for its latest project dubbed ‘Gould Creek BESS’ (battery energy storage system) located nearby Adelaide.
The battery with a capacity of 225MW/450MWh will enhance electricity grid's reliability and stability by stocking energy from the grid during non-peak periods and transmit it to the grid during peak periods.
Morris Zhou, Maoneng Co-founder and CEO, said that the project would aid the state's renewable energy goals.
He claims this approval to be a good news for South Australians as more battery storage will help smoothen the transition to clean energy.
He added that South Australia possesses high capacity to generate renewable energy, which is a positive development, but can create problems while balancing supply and demand due to lack of consistent renewable energy.
Maoneng’s proposed battery storage would help manage this, supporting local energy dependability and security alongside promoting the greater commitment of renewables as a whole.
The firm can now advance with detailing and its funding arrangements and supply chain, which will offer multiple business opportunities for local businesses to get included.
Stephen Patterson, South Australia's Minister for Trade and Investment, greeted the development approval for the Gould Creek project.
He said that South Australia is a leader in renewable energy investment in Australia, and it permits of generating around 60% of the capacity from renewable sources. This is further supporting and attracting investments into the state, creating multiple jobs for communities.
This is a significant investment of $150 million by Maoneng Australia for South Australia's sustainable future. They are delighted to witness an Australian-owned company dedicated to developing projects that are critical for driving a sustainable world.
According to sources, Maoneng plans to start building the project in late 2022 and finish it a year later. During this phase, up to 160 full-time equivalent job positions will be generated. The Department of Energy and Mining is supporting the project with as a Crown sponsorship.