New South Wales government launches 1GW energy storage tender [Yahoo! Finance]
ORIGIN ENERGY UNSP/ADR (OGFGY)
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Source: Yahoo! Finance
The move is part of the state's strategy to transition towards renewable energy sources while ensuring a reliable and affordable energy supply. The tender is designed to support the integration of solar and wind power into the grid by providing energy storage solutions that can release electricity on demand. The NSW Electricity Infrastructure Roadmap Tender 5 is now accepting proposals for long-duration storage projects. Projects must be capable of supplying energy to the state's grid for a minimum of eight hours. Technologies such as pumped hydro, batteries and compressed air storage can be included. The tender is a step towards achieving the state's goal of adding 2GW of new long-duration storage by 2030. The energy equivalent of 1GW of eight-hour storage can meet the daily consumption needs of 505,000 households. The projects are essential to the NSW government's plans for the transition to renewable energy, providing businesses and homes with affordable, reliable powe
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