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Gold/Mining/Energy : Electron Energy Storage

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From: Eric10/17/2022 6:55:51 PM
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BlackRock’s Akaysha scores coup with contract to build “world’s most powerful” battery

Giles Parkinson 18 October 2022 0

Battery storage start-up Akaysha Energy – newly purchased by US investment giant BlackRock and with big plans but no completed projects – has scored a major coup by landing the contract to built the NSW Waratah “super battery”.

The battery will be one of the biggest in the country, and the biggest “network” battery in the southern hemisphere, and will play a key role in the NSW plans to replace the country’s biggest coal generator, Eraring, when it closes in late 2025.

The Energy Corporation of NSW described the Waratah project as the “most powerful battery in the world” although it was not immediately clear how it defined that title.

Akaysha emerged as a major player several months ago with news of its purchase by a fund managed by BlackRock Alternatives’ Climate Infrastructure team and a commitment to to spend more than $1 billion of capital to help Akaysha develop up to nine advanced battery storage assets in Australia.

The Waratah Super Battery – which is to be built at the site of the demolished Lake Munmorah coal generator – will act as a “shock absorber” for the power system and it will allow for more electricity to flow through the State’s network.

EnergyNSW said Akaysha will be responsible for the construction of a battery that will be sized at least 700MW of capacity and 1400MWh of usable storage. The actual size of the battery will be 850MW and 1680MWh, to allow additional capacity to be traded on the market, including at off-peak times of the day.

“By operating as part of a System Integrity Protection Scheme (SIPS) to increase the transmission capacity of the existing network, the BESS will allow more power to flow from existing generators to meet the needs of the families and businesses of NSW,” the statement said.

“Some capacity will also be released at off-peak times of the day for trading. These features will place further downward pressure on the cost to electricity users in NSW.”

The battery hardware will be provided by US-based Powin LLC and built by Consolidated Power Projects Australia (CPP). Powin will provide software using the Centipede BESS platform and Stack OS control system.

“This project will be the first in a wave of Gigawatt class BESS projects across the National Electricity Market (NEM) and will play a critical role in the energy transition by unlocking many GWs of new renewable capacity,” said Akaysha managing director Nick Carter.
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