Neoen, the owner and operator of the Tesla big battery in South Australia, has started working on the Bulgana green power hub in Victoria. It is another combination of a major wind farm with battery storage.
The project, which has an estimated value of around $350 million, will include a 194MW wind farm and a 20MW/34MWh battery storage facility utilizing Tesla’s lithium-ion Powerpacks. It is also considered as the first agribusiness partnership of its kind in the world.
A report on the RenewEconomy website stated that the facility will provide 100 percent renewables to what will be the largest greenhouse in Australia, to be built by Nectar Farms. “Nectar Farms will take around 15 percent of the output from the Bulgana Green Power Hub, while the rest is put into the main grid. The Victoria government has signed a 15-year power purchase agreement for part of that output,” the report stated.
The project is installed on the land of an old gold mine in Stawell, Victoria, and is funded by equity from Neoen and long-term debt from KfW IPEX-Bank, Societe Generale, and Korean government-owned financial institution Korea Development Bank (KDB).
The Head of Neoen Australia, Franck Woitiez, considers the successful financial close as another valuable achievement for the company, which is also close to completing three solar farms in western New South Wales totaling to 115MW.
In a statement, Woitiez said, “We are excited to finally break ground on the Bulgana Green Power Hub and look forward to delivering affordable and sustainable energy to the State of Victoria. Our teams have worked tirelessly to reach financial close for the project, which will not only create a substantial number of jobs but also stimulate healthy economic activity in the local region, specifically in Western Victoria and Stawell.”
The Head of Nectar Farms, Stephen Sasse, stated that the new $215 million glasshouse facility is strategically situated close to the major distribution centres and wholesale markets. He added, “More importantly, the energy solution we have built with Neoen is a world-first for the horticulture industry, and we hope to see it replicated elsewhere in Australia.”
Read the full report here.
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