Shell, GIG collaborate on building 200-MW/400-MWh Victoria battery energy storage

Shell Energy Operations and Macquarie Asset Management’s Green Investment Group (GIG) are collaborating on a 200-MW/400-MWh battery energy storage project in Victoria, Australia.

Australia-based Perfection Private has joined as a minority equity partner.

The partners have already achieved financial closure on the project and are expected to finalize it late next year,

Dubbed Rangebank BESS, the system will have the storage capacity to supply roughly 80,000 homes across Victoria for an hour during peak periods.

Its operation will help stabilize the state’s electricity network by discharging electricity at peak demand periods.

Fluence Energy Inc, the energy storage joint venture of AES Corp and Siemens AG, will build, service, and maintain the energy storage facility.

Shell Energy will have access to 100 percent of the battery’s capacity under a 20-year power off-take agreement.

Meanwhile, GIG will transfer its stake to Eku Energy, its standalone battery-storage-focused business.