Equis becomes owner of USD-1.3bn battery project in Victoria

Asia-Pacific-focused renewables developer Equis Development Pte Ltd has taken control of an AUD-1.9-billion (USD 1.28bn/EUR 1.23bn) battery energy storage project near Melbourne, Victoria, and is now relaunching it with a new name and expanded capacity.

Previously known as the Melton Renewable Energy Hub, the scheme was originated by Australian developer Syncline Energy in the summer of 2021. Following a 100% change in ownership, it is now dubbed Melbourne Renewable Energy Hub (MREH), Equis said on Thursday without disclosing financial details about the investment.

To be located 25 km (15.5 miles) northwest of Melbourne’s commercial business district, MREH will be a 1,200 MW/2,400 MWh battery – the largest one in Australia and Asia. The initial plan for the project envisaged a battery of 600 MW/2,400 MWh.

The proposed complex has been designed as six separate facilities that will be hooked to the National Electricity Market (NEM) via their own connection points. The capacity will be installed in two phases of 600 MW each, the first one of which is planned to enter construction in 2023 and become operational in the following year. All required planning and environmental permits are already in place.

Equis estimates that the MREH battery will be able to support 1.6 GW of solar or 1.2 GW of wind power generation capacity.

“The scale and uniqueness of MREH’s approvals and development mean it will be capable of providing both short and long hour storage and response services catering to the changing demands of the National Electricity Market,” said David Russell, Equis Managing Director.

(AUD 1.0 = USD 0.674/EUR 0.647)

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