The Australian Renewable Energy Agency (ARENA) has announced that it will provide $100 million financing for grid-scale batteries with improved inverters to assist the grid.
ARENA’s Large Scale Battery Storage Funding Round will provide funding to new battery energy storage projects of 70 MW or larger operating in the National Electricity Market or Western Australia’s Wholesale Electricity Market.
The funding round is planned to support at least three projects, with a maximum grant of $35 million available per project.
All battery energy storage systems will be eligible to apply, as long as they are equipped with modern inverters.
“Grid scale batteries and other types of energy storage technology will be vital to support our future electricity system powered by renewables,” said ARENA CEO Darren Miller.
“This funding round will demonstrate the role of advanced inverters in grid scale batteries to provide system stability, facilitating a more efficient transition and accelerate the uptake of renewable generation.
Expressions of interest will be accepted starting in February 2022 and will close on March 31, 2022. For more information including funding guidelines and how to apply, please visit ARENA’s funding page.
