Sixteen successful lithium-ion battery projects have been named in the Australian Government’s Capacity Investment Scheme (CIS), delivering a massive boost to the nation’s dispatchable, clean energy capability.
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The Capacity Investment Scheme (CIS) is an Australian Government revenue underwriting scheme to accelerate investment in renewable energy generation and clean dispatchable capacity.
CIS Tender 3 targeted 4GW (16GWh) of dispatchable capacity in the National Electricity Market (NEM), but saw 124 bids worth around 34GW (~135 GWh) bid in.
The 16 successful projects, all lithium-ion batteries, will deliver 4.13GW (15.37GWh) by the end of 2029. This is enough storage to support the peak load of more than 3.5 million households in the National Electricity Market.
The latest tender will build on the success of previous rounds that have executed 19 agreements to date, worth 5.85GW of capacity nationally.
Minister for Climate Change and Energy Chris Bowen said, “This is the latest step in the Albanese Government’s plan to rebuild Australia’s energy grid into the modern, reliable and fairer system we need.
“In three short years our reliable renewables plan has unlocked record levels of investment in Australia’s energy grid, while delivering good jobs, training, and community benefits to locals hosting this critical new infrastructure, that’s increasingly Australian-made.
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“Our practical approach to energy is harnessing the nation’s natural advantages to deliver more affordable and more reliable energy for our country, powering new jobs in our regions and suburbs and securing billions of dollars in global investment.”
