Australia’s AGL to build USD-2.4bn green energy hub under new JV

On Monday, Australian utility AGL Energy Ltd (ASX:AGL) and green energy provider Someva Renewables revealed their intentions to construct a massive green energy hub in New South Wales that will integrate onshore wind, solar, and battery storage.

A recently established joint venture (JV) between the nations will oversee the development of the Pottinger Energy Park project, which is estimated to cost AUD 3.6 billion (USD 2.35 billion/EUR 2.16 billion).

A solar photovoltaic (PV) park with a capacity of 300 MW, a wind farm with up to 220 wind turbines, and around 500 MW/2,000 MWh of battery energy storage capacity are all part of the concept.

Together, these components may provide electricity for over 830,000 average local residences.

The planned hub will be situated in the Southwest Renewable Energy Zone in the Riverina region of the Australian state, some 60 kilometers south of the town of Hay.

The project is presently in its early phases of development; planning applications and first community involvement are in process.

Someva Renewables is in charge of the proposal’s design, community involvement, and regulatory approval procedure. Should the idea be approved, construction might start in 2026.

The project is a component of AGL’s goal to shift from coal to renewable energy by the end of 2035, adding 12 GW of new renewable generation and firming capacity.

(1.0 AUD equals 0.652 USD/0.601 EUR).

Source ASX:AGL

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