Jemena Group, an energy infrastructure group co-owned by State Grid Corporation of China and Singapore Power has decided not to invest in a hybrid power plant project in South Australia. Jemena has decided to focus investment into its existing assets rather than the unregulated energy market, which the Aurora Energy Project would participate in
The project would include a 140MW/280MWh battery energy storage system (BESS), 70MW of solar PV and a 150MW concentrated solar power (CSP) plant with long-duration molten silicon thermal energy storage.
Aurora’s developer, 1414 Degrees, owns all rights to the development of the project and is listed on the Australian Stock Exchange (ASX).
Ovida had signed an Memorandum of Understanding (MoU) with 1414 Degrees
Following its change of heart, Ovida has terminated the MoU, which was exclusive, and negotiations of final binding agreements called off.
- 1414 Dgrees will receive a termination payment worth AU$100,000 (US$74,336) and retains previously made payments from Ovida including an initial AU$300,000 payment.
The first solar-plus-storage stage of the project will provide renewable energy generation, plus high power frequency regulation services from its short-duration BESS, while the 1414 Degrees thermal energy storage added in stage 2 can provide long-duration, firmed energy which could provide opportunities with higher electricity prices.
The third stage will fully develop the 1,100 hectare parcel of land into a hybrid renewables and storage facility, adding more capacity, including CSP.
