Through the Clean Energy Finance Corporation (CEFC), the Australian Government is investing $100 million in the Waratah Super Battery construction.
The CEFC investment is part of a capital raising of over $500 million by Black Rock Alternatives.
The NSW Government will build the project on the former Munmorah coal-fired power station.
The 850MW battery on NSW’s Central Coast will allow network operators to move more electricity over existing transmission lines, with the battery acting as a “shock absorber” during power surges caused by bushfires or lightning strikes.
The Waratah Super Battery will aid the future power flow by connecting with existing transmission networks, giving households and companies in the National Electricity Market greater access to clean, cheaper energy.
Minister for Climate Change and Energy Chris Bowen stated that boosting storage capacity was critical for the electrical grid’s stability.
“The Waratah Super Battery will help stabilise the electricity network and help deliver more of the cleanest, cheapest form of energy for Australian businesses and households,” Minister Bowen said.
According to Minister Bowen, the Federal Government is already investing extensively in big battery projects in NSW, Victoria, South Australia, and the ACT through the CEFC, in addition to the $20 billion investment in Rewiring the Nation to update and extend the grid to assist Australia’s transition to renewable energy.
“Together we are working with states and other stakeholders across the board to deliver the electricity system strength needed to power Australia with cleaner, cheaper energy,” the Minister added.
“Innovative projects like this one are critical to supporting our state’s transition to net zero as soon as possible,” NSW Energy Minister Penny Sharpe said.
Minister Sharpe stated that the project exemplifies how the State can deliver clean, efficient, and innovative infrastructure that benefits NSW residents and businesses.
The Waratah Super Battery is part of the Sydney Ring Project, a priority in the Australian Energy Market Operator’s 2022 Integrated System Plan (ISP), supported by the Rewiring the Nation fund.
According to the Federal Government, the announcement builds on its Capacity Investment Scheme, attracting approximately $10 billion in investment and adding 6GW to support grid security and reliability.
