Published: Sat, July 08, 2017
Markets | By Lucia Cruz

Elon Musk, Tesla to develop biggest lithium-ion battery system in Australia

Elon Musk, Tesla to develop biggest lithium-ion battery system in Australia

The battery will operate continuously to provide stability services for renewable energy generators, the state government said.

The state's premier, Jay Weatherill, confirmed the deal, stating that he's "thrilled with the selection of Neoen and Tesla, whose experience and world leadership in energy security and renewables will help South Australia take charge of its energy future".

The battery project is expected to sustain 100 megawatts of power and store 129 megawatt hours, which Tesla says could power about 30,000 homes, the Morning Herald reported.

The media circus that generally follows any Tesla announcement will, in this instance, be welcomed by locals, many believe.

Neoen and Tesla will later announce more investments in South Australia, the government said.

The 100-megawatt battery will put SA at the forefront of global energy technology.

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Earlier this year, Australian Prime Minister Malcolm Turnbull declared a national energy emergency as parts of the country were under prolonged power outages over the last year due to its unstable grid. This is not a minor foray into the frontier. His company Tesla, teamed up with the Australian government and a French renewable energy firm for the said project. "And then discharge it when the cost of power production is high, and this effectively lowers the average cost to the end customer", Musk said at the press conference. After a tendering process that called for grid-scale solutions, Tesla was awarded the entire storage component of the project.

The batteries that make up these Powerpacks, including those headed to South Australia, are sourced from Tesla's Gigafactory plant in Nevada.

"I think long term. we have to make an effort to have it look good", he said.

The 100-day deadline will begin within a few weeks, a political source told Reuters, after a connectivity agreement is reached between South Australia, Telsa, Neoen and the Australian Energy Market Operator.

Tesla said the project was slated to be completed by December 2017 and will provide enough power for more than 30,000 homes, which is approximately equal to the number of homes that lost power during the recent blackout period.

Musk is a genius but you don't have to be one to see that the future is in renewable energy.

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