SolarReserve has signed a long-term Generation Project Agreement (GPA) to build a 150 megawatt solar thermal power station with 8 hours of energy storage near the town of Port Augusta, South Australia. The GPA with the State Government of South Australia was signed at a ceremony with Jay Weatherill, Premier of South Australia and Energy Minister Tom Koutsantonis.
“The Port Augusta story is a stark example of the transition of the South Australian economy, with the closure of a dirty coal fired power station, and now the commissioning of this world leading renewable energy project,” said South Australia’s Premier Jay Weatherill.
“The Aurora Solar Energy Project will also create new, advanced employment opportunities in regional South Australia,” said South Australia’s Energy Minister Tom Koutsantonis. “We are using our energy plan to drive investment and jobs in this growing sector.”
The first of its kind in Australia, the Aurora Solar Energy Project will utilise SolarReserve’s leading solar thermal technology with integrated molten salt energy storage. With a massive 1,100 megawatt-hours of energy storage capability, Aurora will be the largest project of its kind in the world, designed to meet the South Australian Government’s annual electricity consumption.
The Generation Project Agreement is similar to a Power Purchase Agreement for renewable energy, except that emphasis is placed on the available capacity of the facility during peak demand periods rather than just the energy that can be delivered in kilowatt-hours. Aurora will deliver power into the National Electricity Market (NEM) at high value electricity periods, providing additional capacity, energy security and reliability services, as well as competition into the South Australian market.
“SolarReserve’s energy storage technology is an excellent fit for the South Australian electricity system”, said SolarReserve’s CEO Kevin Smith. “Aurora will provide much needed capacity and firm energy delivery into the South Australian market to reduce price volatility. SolarReserve looks forward to continuing to work with the South Australian government and stakeholders, including the Port Augusta community where the project is located, to support Federal and State renewable energy targets, stimulate long-term economic development, and create new jobs and businesses.”
For more information:
www.solarreserve.com
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