Tesla partners Vestas in RM675m Aussie deal

by BLOOMBERG

LONDONA novel US$160 million (RM675.2 million) renewable energy project combining wind, solar and storage technologies reached financial close.

Tesla Inc will supply batteries and Vestas Wind Systems A/S will supply turbines for the first phase of the Kennedy Energy Park, according to a statement yesterday on the website of project co-developer WindLab Ltd.

The project is located in Queensland Australia and will be financed by the Clean Energy Finance Corp and the Australian Renewable Energy Agency.

The 60.2MW development will be the first to connect the three renewable power technologies to the Australian grid through a single connection point, once it is completed by the end of 2018, according to the statement.

The combination will help provide reliable supplies of electricity, overcoming one of the biggest downsides to intermittent renewable energy generation technologies.

The project in Flinders Shire, in north-central Queensland, will deploy 12 of Vestas’ V136-3.6 MW wind turbines, as well as 15MW of solar panel capacity and a 4MWh Tesla lithium ion battery, all managed by Vestas’ control system. — Bloomberg