South Australia receives dozens of bids for $150mn Renewable Technology Fund
The South Australian government has received around 60 proposals from companies around the world looking to tap into its new $150mn Renewable Technology Fund.
The proposals include a diverse range of next generation renewable energy and energy storage technologies, including batteries, bioenergy, pumped hydro, thermal, compressed air and flywheel.
Energy Minister Tom Koutsantonis said: “What this result shows is that companies around the world recognise the potential that exists in the energy and storage sector in South Australia.
“The applicants include some of the leading global companies operating at the forefront of these emerging technologies. We also received very exciting proposals from local businesses, demonstrating the incredible capability of the entrepreneurs we have in this State.”
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The fund’s creation coincides with Tesla breaking ground on the construction of the world’s largest battery, housed in South Australia.
Other storage solutions are being considered under the Renewable Technology Fund. Adelaide-based company 1414 Degrees has submitted three proposals for consideration, including a pilot 10MWh thermal storage project that could allow SA Water to store some of the energy it generates from biogas produced at the Glenelg Waste Water Treatment Plant.
Koutsantonis added: “The Renewable Technology Fund will not only help deliver clean, reliable and affordable power, it will also create new energy and renewables jobs in South Australia.
We are investing in these technologies as part of our plan to improve grid security and put downward pressure on power prices.
“Steven Marshall’s only plan is to leave it up to Canberra to set South Australia’s energy agenda. When it comes to energy, there’s a blockage in the Liberal Party - it’s time Mr Marshall showed some fibre and pushed out some policies of his own.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.