About the Fund
The $50 million Grid Scale Storage Fund is one of the key components of the South Australian Government’s energy policy.
It aims to accelerate the roll-out of grid-scale energy storage infrastructure and address the intermittency of South Australia’s electricity supplies.
The Fund targets projects that help to address some of the key challenges that are having cost impacts on South Australia’s power system, now and into the future.
The Fund is technology neutral. Some examples of eligible technologies include pumped hydro energy storage, hydrogen and natural gas storage, solar thermal and battery storage. As well as improving energy affordability, reliability and security, successful projects will create jobs and boost local industry development.
The first successful project to receive funding was announced in November 2019.
Renewable energy company Neoen was awarded $15 million to expand the Hornsdale Power Reserve, located near Jamestown, South Australia. The 50MW/64.5MWh expansion will further demonstrate the benefits that grid-scale batteries can provide to the National Electricity Market (NEM) and Australian consumers.
Further announcements are expected in 2020.
