Australia's Providence Asset Group eyes 1.2 GWh of hybrid storage for 39 solar parks

Providence Asset Group has embarked on a solar park roll-out in New South Wales and Victoria and a plan to add close to 1.2 GWh of hybrid storage capacity, the Australian investment firm said Monday.

The company is partnering with the University of New South Wales to develop and deploy the hydrogen battery storage technology H2Store, which it claims allows the storage of surplus electricity more cost-effectively than lithium batteries. Its idea is to pair its new solar sites with 30 MWh of “advanced” storage, combining hydrogen storage and traditional lithium-ion batteries.

Providence has already started building six photovoltaic (PV) parks in Victoria that will join its fleet of five operational plants there. In New South Wales, it will invest AUD 500 million (USD 357.8m/EUR 305m) in 28 solar projects, a mix of self-owned and community-owned schemes.

Installing 1.2 GWh of storage capacity will be enough to power 40,000 homes for six hours during peak demand, the developer said.

(AUD 1.0 = USD 0.716/EUR 0.610)

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