Vestas, Tesla, Windlab, & Australian CEFC Partner On World’s First Utility-Scale Hybrid Wind, Solar, & Storage Project
19 October 2017
A world first renewable energy project has taken its first steps in Australia, with big-name companies Vestas, Tesla, and Windlab backed by Australia’s Clean Energy Finance Corporation partnering on a $160 million, 60 MW hybrid wind, solar, and energy storage project.
“This is a landmark project for Queensland and Australia, creating a new model for renewable energy that brings together the benefits of wind, solar and battery storage to overcome intermittency and improve reliability.” said CEFC Wind Sector Lead Andrew Gardner.
“Financing three separate technologies on one site was a complex undertaking that had not previously been achieved in Australia. As the sole debt financier for this project, our goal was to demonstrate the bankability of large-scale, integrated hybrid renewable energy projects for the future. We expect such projects to become an increasingly important part of Australia’s electricity system, with complementary battery storage addressing the intermittency of wind and solar generation to support grid stability.”