BRIEF

on NEOEN SA (EPA:NEOEN)

Neoen to Expand Collie Battery Facility with Second Large-Scale Storage Contract

Stock price chart of NEOEN SA  (EPA:NEOEN) showing fluctuations.

Neoen has secured a contract from the Australian Energy Market Operator (AEMO) to provide a 300 MW / 4-hour energy storage service in Western Australia. This project, called Stage 2 of Collie Battery, will use 348 Tesla Megapack 2 XL units and is expected to be operational by Q4 2025. The facility, adding significant muscle to Western Australia’s South-West Interconnected System (SWIS), will play a vital role in evening peak energy provision post-coal power era.

Construction will engage Tesla and UGL as the primary contractors, with the work providing 150 jobs and opportunities for local suppliers. Located near Collie on the land of the Wilman people of the Bibbulmun nation, this project will ultimately strengthen energy security and stability across the region. With an expected operational date for Stage 1 in Q4 2024, and Stage 2 in Q4 2025, Collie Battery will significantly enhance the SWIS network's response to an average demand coverage of 20%.

With this latest agreement, Neoen boosts its Australian portfolio to 4 GW in capacity and reinforces its lead as the country's dominant renewable energy firm. The assets of Neoen in Australia, apart from this battery storage, include solar and wind technologies spread over six states and territories.

R. H.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all NEOEN SA news