Energy Storage News•about 1 month ago
Fortescue claims ‘record-low pricing’ for large-scale battery storage in Australia
Key Takeaway
Fortescue's claim of 'record-low pricing' for large-scale battery storage in Australia signals a significant cost reduction trend, enhancing the economic viability of new storage projects for developers and large power consumers.
AI Summary
- •Fortescue claims to have secured large-scale battery storage in Australia at unprecedented 'record-low pricing'.
- •This indicates a maturing and increasingly competitive market for battery energy storage systems (BESS) in Australia, potentially setting new benchmarks for future projects.
- •For developers and IPPs, this suggests improved project economics for battery storage deployments, potentially leading to more competitive Power Purchase Agreements (PPAs) for hybrid renewable projects or standalone storage.
- •Large power consumers could benefit from lower costs for grid services or peak shaving solutions incorporating BESS, as the cost curve for storage continues to decline.
Topics
financingoemppastorage