On March 12th, South Korea's Hanwha Energy announced an agreement with Australian renewable energy developer Ark Energy to provide a 275MW/220MWh Battery Energy Storage System (BESS) for its Richmond Valley solar and energy storage project in New South Wales, with a total contract amount of AUD 1.2 billion (approximately USD 790 million).

According to the agreement, Hanhua Energy will provide a complete BESS solution for the Richmond Valley project, including lithium iron phosphate (LFP) batteries, inverters, and commissioning services. The system lasts for up to 8 hours and can effectively balance the power grid load and improve energy efficiency. The project is scheduled to be delivered in 2026 and put into commercial operation in 2027. At that time, it will be connected to the Australian National Electricity Market (NEM) to provide stable power support for New South Wales.

The Richmond Valley project is located in Myrtle Creek, about 700 kilometers north of Sydney. The solar photovoltaic section will install up to 730000 double-sided modules and be equipped with an east-west tracking system. The entire construction period is 24 months and the operation period is 30 years. It is expected to directly create 327 full-time jobs for the local area and bring a regional economic benefit of AUD 180 million.

This project is one of the three projects under Ark Energy that have been selected for Australia's first National Renewable Energy Priority List. The list covers a total of 56 priority projects, including 6.3GW of energy storage and 16GW of renewable energy generation capacity, aimed at accelerating Australia's energy transition. In addition, Ark Energy's 1GW Boomer Green Energy Centre in Queensland and 300MW St. Patrick's Plains Wind Farm in Tasmania were also selected. (This article is from the official website of Jian Dao www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website strategy column editor/Wu Juan