THE State Electricity Commission (SEC) is making its first investment – a $245 million contribution and more than a quarter of its initial investment budget – to help build a $1 billion battery hub in Melton.
The state government says the Melbourne Renewable Energy Hub will store enough energy to power up to 200,000 homes in peak periods.
This is the first investment from the SEC’s initial $1 billion towards building 4.5 gigawatts of new renewable energy generation and storage projects.
The Hub will have three battery components totalling 600 megawatts in size, and is being developed in partnership with the renewable energy investor Equis Australia. Once complete, the Hub will provide 1.6 gigawatt hours of energy storage.
Construction of the Hub will create up to 155 jobs, including 14 apprentice and trainee roles. The SEC’s $245 million investment secures the Hub’s delivery and enables one of the project’s battery components to double in size.
The Hub is expected to be operational by 2025, when it will start storing excess rooftop solar and surplus energy from the grid.
The government says the project is critical to meeting its target of at least 2.6 gigawatts of energy storage capacity by 2030 and 6.3 gigawatts by 2035.
Victoria’s policy is to transition to 95 per cent renewable energy generation by 2035.
For more information visit, secvictoria.com.au
The SEC has been enshrined in the Victorian Constitution.
