Infigen Energy : INVESTS IN BATTERY ENERGY STORAGE SYSTEM

INFIGEN INVESTS IN BATTERY ENERGY STORAGE SYSTEM

15 August 2018

INFIGEN INVESTS IN BATTERY ENERGY STORAGE SYSTEM

Infigen Energy (IFN:ASX) today announces its investment in a 25 MW / 52 MWh Battery Energy Storage System (BESS) in South Australia, using Tesla Powerpack technology.

Construction activities are expected to commence in the coming weeks. Infigen has entered into funding agreements with the South Australian (SA) Government and the Australian Renewable Energy Agency (ARENA) to co-fund the approximately $38 million development. The SA Government and ARENA have each committed $5 million in grant funding ($10 million in total).

The BESS will be located adjacent to the 278.5 MW Lake Bonney Wind Farm and will be connected to the National Electricity Market (NEM) via the Mayurra substation owned by ElectraNet.

The BESS enables Infigen to firm at least an additional 18 MW of power depending on the customer load profile.

Mr Ross Rolfe, Chief Executive Office of Infigen, said, 'With the firming capability of the BESS Infigen will be able to expand its supply contracts from the Lake Bonney Wind Farm to additional commercial and industrial customers in South Australia, which is at the heart of our business strategy.'

The operational benefits of the BESS are:

1. Firming Infigen's SA portfolio: access to energy storage allows Infigen to enter into additional energy supply contracts with commercial and industrial customers.
2. System security in the NEM: the BESS can supply ancillary services ensuring increased security and quality of supply and fast response services as required.
3. Policy considerations: adding battery energy storage capability to the SA market is consistent with the objectives of energy policy, including the proposed National Energy Guarantee.

SA Minister for Energy Dan van Holst Pellekaan welcomed Infigen's investment.

'The Marshall Government are strong supporters of increasing battery storage to harness the full potential of South Australia's abundant renewable energy and the lower prices that will be delivered to households and businesses,' said Mr van Holst Pellekaan.

Mr Ross Rolfe, said, 'Infigen's strategy is to supply clean energy to our customers and participate in growth opportunities in the NEM. Our investment in the BESS demonstrates our continued solid progress in delivering on our strategy. We are delighted to be able to work with global technology leader Tesla, ARENA and the South Australian Government to contribute to improved energy security and reliability of supply for South Australian energy consumers.'

ENDS

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