Inpex decides on solar power and battery energy storage project in Australia
TOKYO, June 14 (Reuters) -Japan's Inpex 1605.T said on Friday it had reached a final investment decision on a combined project of solar power generation and battery energy storage in Australia, through Enel Green Power Australia (EGPA), in which it has a 50% stake.
The move comes as part of efforts by the Japan's biggest oil and gas explorer to trim carbon dioxide emissions to help tackle climate change.
The Quorn Park Hybrid Project will provide a power supply combining a 98 megawatt direct current (MWdc), or 80 megawatt alternative current (MWac), of photovoltaic power generation and 20 MW/40MWh battery energy storage system (BESS) connected to a grid, Inpex said in a statement.
The project, to be located in New South Wales, is expected to help maximize revenue and stabilize the grid by efficiently charging and dispatching electricity generated from solar power and regulating the electricity sent to the grid, Inpex said.
This is the first deal in which INPEX has reached a final investment decision in the renewable energy sector in Australia since it bought 50% stake in EGPA from Enel Green Power, a subsidiary of Italian utility company Enel ENEI.MI in September 2023.
EGPA is engaged in renewable energy operations including hybrid power generation combining photovoltaic and wind power generation with BESS across Australia.
Reporting by Yuka Obayashi; Editing by Rashmi Aich
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