{"id":73532,"date":"2023-04-13T08:03:28","date_gmt":"2023-04-12T21:33:28","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=73532"},"modified":"2023-04-13T08:03:28","modified_gmt":"2023-04-12T21:33:28","slug":"westpac-rangebank-battery-mb2898","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/westpac-rangebank-battery-mb2898\/","title":{"rendered":"Westpac Gets Behind Victoria’s Rangebank Big Battery"},"content":{"rendered":"

\"Victoria's<\/p>\n

Australian “Big 4” bank Westpac announced yesterday it’s one of the lead financiers for the delivery of Victoria’s huge Rangebank Battery Energy Storage System (BESS).<\/p>\n

Late last month, Macquarie Asset Management\u2019s Green Investment Group (GIG) and Shell Energy Operations (Shell Energy) announced<\/a> they were teaming up on delivering a major battery project, which will be a 200MW \/ 400MWh BESS installed on a two-hectare site within Rangebank Business Park in Cranbourne West<\/a>; around 43 km south-east of Melbourne’s CBD.<\/p>\n

\u201cLocated in one of Melbourne\u2019s fastest-growing population centres, the Rangebank BESS will help to stabilise Victoria\u2019s state electricity supply by providing additional storage capacity which can be discharged at times of peak demand,\u201d said Shell Energy Australia Chief Executive Officer Greg Joiner.<\/p><\/blockquote>\n

Through an offtake agreement, Shell Energy will have access to 100% of the battery\u2019s offtake over a 20-year period. The Rangebank BESS will be built and maintained by Fluence, utilising Fluence\u2019s sixth generation Gridstack<\/a>\u00a0 energy storage technology.<\/p>\n

All going well, construction is set to commence this quarter. The project has all its ducks lined up; with land, development approvals and financing secured. Among the financiers is Westpac.<\/p>\n

“We are very pleased to be a lead financier for the delivery of this important energy infrastructure, which is a critical component in delivering both a de-carbonised and stable energy sector,”\u00a0 said<\/a> Westpac Institutional Bank’s Head of Energy Infrastructure and Resources, David Scrivener yesterday.<\/p><\/blockquote>\n

Westpac And Renewables<\/h2>\n

Westpac claims to be the largest bank lender to greenfield renewable energy projects in Australia over the past five years to 30 September 2022, and says renewables accounted for 80% of the organisation’s total committed exposure to the electricity generation sector.<\/p>\n

Westpac has been keen to be seen to be distancing itself from fossil fuels in recent years after ongoing pressure<\/a> from activist groups such as MarketForces, which focuses on helping people keep their money out of environmentally destructive projects. In July last year the bank announced further commitments<\/a> to reduce its lending portfolio emissions intensity and had previously announced it would exit financing the thermal coal mining sector entirely by 2030.<\/p>\n

As well as supporting renewables through finance, Westpac has been looking at cleaning up its own energy supply.<\/p>\n

Back in 2019, the bank pledged to source 100 per cent of its electricity from renewable sources by 2025 and also joined the RE100 program, which is a global initiative bringing together major businesses pursuing 100% renewable electricity.<\/p>\n

Since that time, Westpac has inked several significant power purchase agreements for clean electricity. These involve Bomen Solar Farm near Wagga Wagga in New South Wales, Ararat Wind Farm in Victoria and Berri Solar Farm in South Australia.<\/p>\n

The agreement involving the latter two represents supply of up to 32.5GWh per annum. With that in place and the Berri solar project operational this year, Westpac expects to be sourcing the equivalent of 100% of its Australian electricity requirements from renewable sources by 2024 – a year earlier than its original target.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australian “Big 4” bank Westpac announced yesterday it’s one of the lead financiers for the delivery of Victoria’s huge Rangebank Battery Energy Storage System (BESS).<\/p>\n","protected":false},"author":17,"featured_media":73533,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-73532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nWestpac Gets Behind Victoria's Rangebank Big Battery<\/title>\n<meta name=\"description\" content=\"Big 4 bank Westpac announced yesterday it's one of the lead financiers 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Tilt Renewables has proposed a 196 MW \/ 392 MWh battery project in Terang, which is around 212 kilometres south- west of Melbourne and situated within\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Dalvui battery project - Tilt Renewables","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/dalvui-battery-project.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/dalvui-battery-project.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/dalvui-battery-project.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/dalvui-battery-project.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/dalvui-battery-project.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":68220,"url":"https:\/\/www.solarquotes.com.au\/blog\/darwin-big-battery-mb2732\/","url_meta":{"origin":73532,"position":2},"title":"Darwin’s “Big Battery” Project Progresses","author":"Michael Bloch","date":"November 29, 2022","format":false,"excerpt":"An important construction milestone has been reached for the Northern Territory's Darwin-Katherine Battery Energy Storage System (DK BESS) project. The DK BESS is a 34.7MW\/34.7MWh (primarily noted as 35MVA) project being constructed in the south-eastern area of Channel Island Power Station (CIPS - pictured above) in Darwin. A 279 MW\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Darwin's Channel Island Power Station","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/11\/dk-bess-channel-island.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/11\/dk-bess-channel-island.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/11\/dk-bess-channel-island.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/11\/dk-bess-channel-island.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/11\/dk-bess-channel-island.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":51167,"url":"https:\/\/www.solarquotes.com.au\/blog\/kleinton-battery-storage-mb2037\/","url_meta":{"origin":73532,"position":3},"title":"Kleinton Battery Storage Project Application Lodged","author":"Michael Bloch","date":"June 15, 2021","format":false,"excerpt":"An application has been lodged for a battery energy storage facility to be constructed at a site around 13 kilometres north of the Queensland city of Toowoomba. The project is part of an Energy Queensland trial involving the installation of 40MWh of battery storage. The trial, announced by the Palaszczuk\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Kleinton Battery Energy Storage System - Toowoomba Shire","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/battery-storage-toowoomba.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/battery-storage-toowoomba.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/battery-storage-toowoomba.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/battery-storage-toowoomba.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/06\/battery-storage-toowoomba.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":68950,"url":"https:\/\/www.solarquotes.com.au\/blog\/nz-big-battery-mb2755\/","url_meta":{"origin":73532,"position":4},"title":"Work On New Zealand’s First Big Battery Starts Soon","author":"Michael Bloch","date":"December 16, 2022","format":false,"excerpt":"New Zealand's Meridian Energy announced yesterday it will kick off construction of its 100MW \/ 200MWh Ruak\u0101k\u0101 Battery Energy Storage System (BESS) project in the first quarter of next year. The first large-scale grid-connected BESS for the country, the system will be situated immediately adjacent to Transpower\u2019s 220kV substation at\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Ruak\u0101k\u0101 big battery - New Zealand","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/12\/big-battery-nz.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/12\/big-battery-nz.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/12\/big-battery-nz.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/12\/big-battery-nz.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/12\/big-battery-nz.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":69738,"url":"https:\/\/www.solarquotes.com.au\/blog\/blyth-big-battery-mb2783\/","url_meta":{"origin":73532,"position":5},"title":"Blyth Big Battery Given Go-Ahead","author":"Michael Bloch","date":"January 9, 2023","format":false,"excerpt":"Neoen announced late last week it's all systems go for another of its big battery projects, this one in South Australia. On Friday, the company said it had issued notices to proceed to contractors Elecnor and NHOA for the 200 MW \/ 400 MWh\u00a0 Blyth Battery, which is to be\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Blyth Battery - South Australia","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/blyth-battery.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/blyth-battery.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/blyth-battery.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/blyth-battery.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/blyth-battery.png?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/73532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=73532"}],"version-history":[{"count":3,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/73532\/revisions"}],"predecessor-version":[{"id":73537,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/73532\/revisions\/73537"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/73533"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=73532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=73532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=73532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}