The Victorian Government’s Development Facilitation Program has sped up the Tarrone Battery Energy Storage System (BESS) project for Global Power Generation, a leading international renewable energy company. This program makes it easier for major projects to get approvals, which lowers risks and speeds up the time it takes to apply.
During the day, the battery will store cheap renewable energy and send it back into the power system when demand is highest. This will help keep the grid stable and lower energy prices for homes and businesses in Victoria.
During periods of high generation, this Battery Energy Storage System BESS project will be able to store up to 200MWh of energy and serve around 69,000 homes during times of peak demand.
The $190 million project is also planned to produce more than 100 employment throughout all phases of development, as well as two full-time positions that will last as long as the storage system is in use.
The decision was made after talking to citizens, stakeholders, the council, the Country Fire Authority, Ausnet, Worksafe, and Moyne Shire Council.
The Government added renewable energy projects to the Development Facilitation Program last year. This program speeds up the process of getting planning permissions for big projects that provide big economic, social, and environmental advantages.
The initiative has since sped up $4.4 billion worth of renewable energy projects. These 16 projects could power around 540,000 homes per year, and their battery storage could satisfy the needs of more than 1 million homes during peak nighttime hours.
Before this fast-tracked process, more than one in five applications for renewable energy projects were delayed in the Victorian Civil and Administrative Tribunal (VCAT), which often meant that investments were delayed by up to two years. This method lowers these kinds of dangers, which makes investors feel more secure.
Victoria’s large expenditures in renewable energy have led to the lowest wholesale power rates in the country, which helps keep prices low and the market stable. These steps are very important for Victoria to reach her goal of getting 50% of its electricity from renewable sources by 2030. They also provide investors a lot of confidence.
Victoria is getting closer to its renewable energy goals because to its rich natural resources and developing battery storage capabilities. This has led to $9.5 billion in economic growth and excellent investment prospects in a dependable, sustainable energy future.
