March 9, 2021 Read More →

Yallourn closure accelerated, to be replaced by giant storage battery

Bloomberg:

EnergyAustralia will accelerate the closure of a 100-year-old coal-fired plant and install a giant storage battery to achieve a faster transition to clean power that’s leaving aging fossil fuel sites uncompetitive.

The Yallourn site in Victoria’s Latrobe Valley, which supplies about 20% of electricity demand in the state, will shut by mid-2028 rather than 2032, the unit of Hong Kong-based CLP Holdings Ltd. said in a statement.

Under the plan, the electricity retailer will add a four-hour, 350-megawatt utility-scale storage battery — larger than anything currently in operation globally — in the same region as the coal plant by 2026. 

While coal still accounts for the bulk of Australia’s energy mix, a surge in new renewable generation capacity through 2025 will pressure more expensive fossil fuel assets and leave many plants uneconomic, the Institute for Energy Economics and Financial Analysis said in a report last month. 

[David Stringer]

More: Century-Old Australian Coal Plant Makes Way for Giant Battery

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