CEFC backs supply and storage
The Clean Energy Finance Corporation (CEFC) is increasing its investments in wind and battery power.
With a fresh injection of $99 million, the CEFC is set to support the expansion of the Neoen Goyder South Stage 1 Wind Farm and the construction of the Blyth Battery in South Australia.
This move is poised to increase renewable energy generation by 203 MW and enhance battery storage capacity by 238.5MW / 477MWh.
Located 150 kilometres north of Adelaide, the Goyder South Stage 1 is a cornerstone of Neoen's Goyder Renewables Zone.
Upon completion, the project will be Neoen's largest wind asset globally, featuring 76 wind turbines.
The Goyder South Stage 1, alongside the Blyth Battery, is engineered to supply firm green power to BHP’s Olympic Dam.
This initiative marks a pivotal step towards decarbonising one of the globe's most significant critical mineral mines, catering to approximately half of its electricity requirements through a renewable energy baseload contract.
This innovative energy solution leverages the second tranche of Goyder South Stage 1's wind output, enhanced by the Blyth Battery's storage capabilities and Neoen's energy management acumen.
The synergy between intermittent wind energy and reliable battery storage underpins a sustainable energy model for BHP's Olympic Dam, aligning with broader decarbonisation goals.
The construction phase is already bustling with activity, employing over 400 workers at Goyder South and 40 at the Blyth Battery, with expectations to create an additional 15 permanent roles upon operational commencement.
A notable aspect of this project is its support for Australian manufacturing, exemplified by the installation of wind turbine anchor cages produced in Sydney by Allthread Industries, utilising Australian steel that comprises about 50 per cent recycled material.
Neoen, a global leader in renewable energy production, will own and operate this ambitious development.
The CEFC's investment is complemented by contributions from international financiers including KfW IPEX-Bank, Westpac, ING, and Mizuho.
The partnership between Neoen and the CEFC has been instrumental in financing several key projects, including four large-scale batteries, with the Blyth Battery marking the fifth.
Louis de Sambucy, CEO of Neoen, expressed enthusiasm about the joint financing effort, highlighting the project's role in powering BHP’s Olympic Dam mine with renewable energy.
Monique Miller, CEFC CIO for Renewables and Sustainable Finance, also noted the significance of this partnership in advancing the CEFC's portfolio of Neoen developments, including the innovative retrofitting of the Victorian Big Battery to incorporate grid-forming inverter technology.