AEMO: Grid-scale BESS in Australia’s NEM nets AU$70 million in Q4 2024

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

• Regular insight and analysis of the industry’s biggest developments
• In-depth interviews with the industry’s leading figures
• Annual digital subscription to the PV Tech Power journal
• Discounts on Solar Media’s portfolio of events, in-person and virtual

In the energy market, net revenue from batteries increased by AU$34.6 million, representing a 257% rise, bringing the total to AU$48.1 million, accounting for 69% of the total estimated net revenue. The significant growth in revenue from energy arbitrage was primarily due to an AU$38.4 million increase (300%) from energy generation.

Additionally, charging during negative price periods contributed an increase of AU$3.9 million, resulting in total battery revenue of AU$7.2 million for the quarter. However, energy costs associated with charging at prices above AU$0/MWh also rose by AU$7.7 million, a 298% increase YoY.

AEMO also said that grid-scale solar PV output achieved a new quarterly high average on the NEM of 2,212MW, an increase of 9% year-on-year (YoY). The increase in variable renewable energy generation from grid-scale solar PV rose by 259MW YoY due to newly connected facilities and those progressing through the commissioning processes.

The majority of the increase was found in the state of New South Wales. This was predominantly through the availability of solar generation from the 300MW Wellington North PV plant, owned by Beijing Energy International Australia, and Fotowatio Renewable Ventures Australia’s 353MW Walla Walla PV plant, which was first energised in November 2024.

You can read the full article on our sister site PV Tech.

Western Australia’s Premier Roger Cook of the Labor Party has pledged to invest AU$150 million (US$92.4 million) into a 500MWh 10-hour duration vanadium battery energy storage system (BESS) should it be re-elected in the upcoming state election.

A few weeks ago, a battery recycling deal was announced for a 640MWh BESS project in Australia, but the project isn’t even built yet and the cells have 25-year warranties – we caught up with the company recycling the batteries to hear more.

Acen Australia has submitted a 320MW solar-plus-storage project featuring a 1,400MWac battery energy storage system (BESS) in New South Wales to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.

The cancellation of the 5GW/120GWh Pioneer-Burdekin Pumped Hydro Project in Queensland, Australia, has seen power price forecasts jump by over 60% for 2035.

Utility Rocky Mountain Power (RMP) and technology provider Torus have signed a memorandum of understanding (MOU) outlining a strategic partnership and exploration of 70MW of demand response capacity using Torus’ energy storage solutions.