Equis secures $163m for energy storage project in Australia

Equis Australia has secured A$260m ($163m) financing and begun operation for the 250MW/500 megawatt hours (MWh) Calala artillery vigor retention strategy (BESS) successful Tamworth, New South Wales (NSW), Australia.

The institution secured the non-recourse elder indebtedness financing bundle from Westpac, Société Générale and the Sumitomo Mitsui Banking Corporation.

The Calala BESS is 5.8km southeast of Tamworth municipality centre. It volition beryllium connected to NSW's energy grid via an underground cablegram to the 330kV Tamworth substation.

The task volition beryllium afloat operational by 2027 and volition powerfulness 115,000 homes during highest times.

It is designed arsenic 2 autarkic projects, with 1 100MW/200MWh information supported by a semipermanent offtake statement with Smartest Energy for its afloat capacity.

The remaining 150MW/300MWh information volition run arsenic a merchant BESS, utilising Tesla's real-time trading and power platform, Autobidder, which includes a gross stock and a minimum gross guarantee.

Equis co-founder and managing manager David Russell stated: “The Calala BESS volition beryllium instrumental successful supporting New South Wales’ renewable vigor targets portion besides providing captious firming and frequence enactment services to the National Electricity Market (NEM), enabling greater integration of renewable vigor for Australia.”

The operation of Calala BESS volition make 170 jobs and up to 7 jobs during its operation.

Equis' in-house readying and communications squad has been engaging with the Tamworth assemblage since 2022, ensuring the project's occurrence done section support.

In addition, done a Voluntary Planning Agreement (VPA), Calala BESS volition lend A$2m to Tamworth Regional Council.

Equis Australia caput and managing manager Mahesh Reddy stated: “Calala BESS has contracted Tesla to supply 138 Tesla megapacks, consolidated powerfulness projects to present the engineering, procurement and operation (EPC) of the equilibrium of plant, and Transgrid to implicit the transportation into the Tamworth Substation.

“We’re arrogant to beryllium delivering the task successful concern with experienced and highly regarded counterparties, each with a proven way grounds of delivering analyzable infrastructure projects connected clip and wrong fund crossed Australia.”

In April 2023, Equis Development created a 50/50 owned consortium with SSE Renewables to bid for the Gippsland offshore upwind projects successful Victoria, Australia.

"Equis secures $163m for vigor retention task successful Australia" was primitively created and published by Power Technology, a GlobalData owned brand.

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