Australian photovoltaic, battery, hydrogen energy industrial park to replace coal-fired power plants
A multi-billion-dollar solar, battery storage, wind and potential green hydrogen project in Victoria is progressing following the Hostplus pension Fund.The planned project is a joint venture between Octopus Australia and Clean Energy Finance of Australia.
The Gippsland Renewable Energy Industrial Park is located in the heart of Gippsland.Gippsland, located in southeastern Victoria, has long been known as the state's coal capital.Octopus Australia did not disclose specific capacity, but said it " would be a multi-billion-dollar project and would deploy various technologies on a utility scale."The project is designed to replace the capacity that will be lost at the Yarorn coal-fired power plant near the Australian Energy Corporation (EnergyAustralia) in 2028.
Hostplus will invest in developing the project through a platform managed by Octopus Australia.The pension fund did not disclose the amount of investment in the project, but will be tied with A $8.5 million ($6.1 million) from Australia's National Clean Energy Finance Corporation (CEFC).
As Photovoltaic Australia reported in August, Octopus Australia and CEFC have formed a joint venture that appears to focus on renewable energy projects in the Gipsland, Victoria area.Following this partnership, the parties acquired the project development rights for Solis Renewable Energy, the Melbourne management team, and Marathon Electrical and construction firm WK & MA Ferguson in Gippsland.
The two projects include the proposed 44 MW Perry Bridge Solar Farm and the nearby 80M W Fulham Solar Farm.We are not sure if the right to develop the Gipsland Renewable Energy Industrial Park was acquired then or later, but currently they do belong to Octopus and CFEC.
Octopus Australia estimates that the construction and development of the Gipsland renewable energy industrial park will create hundreds of jobs in the region, which has been hit by forest fires and the local wood and coal industries are declining.
This news sourced from: PV TECH
