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Australian state Victoria to invest $20m to boost energy storage

CTBR Staff Writer Published 15 March 2017

The Victorian government has announced a new $20m funding to boost energy storage capacity in the Australian state by up to 100MW by end 2018.

This new investment adds on to the earlier commitment by the government of $5m to the energy storage sector.

It will be used to promote large-scale energy storage initiatives, support creation of new jobs, protect affordability and to sustain the energy grid’s reliability.

An announcement in this regard was made by Victoria Premier Daniel Andrews and Minister for Energy and Environment Lily D’Ambrosio at Tesla’s Melbourne headquarters.

Andrews said: “Victoria will remain a net exporter of energy, but investments like this will ensure our state stays as one of the most reliable energy producers in the world.

“Our focus is on keeping Victoria’s diverse energy system as affordable, resilient and secure as possible, particularly during peak periods and extreme weather events.”

D’Ambrosio said: “This investment is about using all the technology available to us to ensure the security and reliability of our energy supply, while creating jobs.”

The Victorian government has issued tenders to firms that deal in technologies related to batteries, solar thermal or pumped hydro and also those who partner with network businesses to increase the energy storage capacity in the state.

Apart from the investment, the government will also establish an Energy Taskforce of Cabinet to ensure that the state continues to have a reliable and affordable energy system.

The renewable energy commitment from the Victorian government coincides with the South Australian government’s creation of a new $150m renewable technology fund.

The South Australian government stated that it will build the largest battery in the country to store energy harnessed from the wind and sun.