Vena Energy, the company behind the 95 MWac Tailem Bend Solar Project east of Adelaide in South Australia, has reached financial close on the Taliem Bend 2 Hybrid Project (the project), the company’s first solar and battery energy storage (BESS) project in the state.
The project is set to have a combined capacity of 128.5 MW, 87 MW of which is solar and 41.5 MW BESS. According to Vena the project will be capable of providing clean energy to around 35,000 homes each year, negating 207,000 tonnes of greenhouse gas emissions.
The financing for the project was facilitated by Singapore’s DBS Bank, ING, and Siemens Bank. And the project has already found a power purchase agreement (PPA) through South Australian retailer Zen Energy. Zen Energy CEO Anthony Garnaut said the company is proud to be supporting the construction of a renewable energy asset in what is “the critical decade for climate action”.
Vena Energy Australia head, Owen Sela, described the project as “an example of this shift” to accelerate the energy transition across the Asia-Pacific region by providing “both generation and storage for renewable energy to the South Australian network as part of its plans to achieve net-zero by 2030.”
“In Australia we have around 5 GW of renewable energy projects in the pipeline,” continued Sela, “accommodating the demand for clean, reliable energy sources.”
DBS Bank’s group head of energy, renewables and infrastructure, Lim Wee Seng, noted that the task of accelerating the transition to a low carbon future is “not just about increasing renewable capacity but about enhancing the quality of solutions offered. Tailem Bend 2 – a hybrid that offers green energy and firming assets – represents the type of quality solutions needed.”
UGL Limited has been named as the EPC contractor to deliver this second stage of the project, with Doosan GridTech as the head contractor for the BESS component.
Construction on the project has already begun, with BESS construction to commence in late 2022. The project is expected to come online in 2023.
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