Tesla and Vestas partnership: AU$160mn renewable project
Tesla Inc. and Vestas Wind Systems A/S have partnered to develop an AU$160mn renewable energy project that combines wind, solar, and storage technologies.
The American Tesla will be providing batteries, whilst Danish Vestas will supply wind turbines for the first phased of the Kennedy Energy Park.
The 60.2MW capacity project is situated in Flinders Shire, north-central Queensland, and funded by the Clean Energy Finance Corp. and the Australia Renewable Energy Agency.
The two companies have created the first renewable energy development that connects three power technologies to the Australian grid through a single connection point once completed by the end of 2018.
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The amalgamation of energy sources will help provide reliable electricity supplies, defeating one of the major issue with intermitted renewable energy generation technologies.
“Renewables are often seen as not so reliable because we can’t control what we produce; control is what we are addressing here,” reported Clive Turton, President of Vestas Asia Pacific.
The development will position 12 of Vesta’s V136-3.6MW turbines and a 4MWh Tesla ion battery in Flinders Shire, where there is a 15MW solar power capacity. This will all be managed by Vestas’ control system.
Project equity will be equally provided by Windlab and Eurus Energy Holdings Corp., with the Clean Energy Finance Corporation providing $93.5mn in debt finance, and the Australian Renewable Energy Agency supplying $18mn in a subordinated refundable grant.
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.