Joint media release: $100 million investment in Waratah Super Battery to deliver more reliable, cleaner, cheaper energy for NSW
The Hon Chris Bowen MP, Minister for Climate Change and Energy
The Hon Penny Sharpe MLA, NSW Minister for Climate Change, Minister for Energy, Minister for the Environment, Minister for Heritage
The Albanese Government is backing construction of what will be the largest network battery in the southern hemisphere to help unlock cleaner, cheaper, firmed renewable energy for Australians.
With a $100 million Clean Energy Finance Corporation (CEFC) investment as part of a capital raise of more than $500 million by BlackRock Alternatives, the NSW Government will deliver the Waratah Super Battery on the former site of the Munmorah coal-fired power station.
The 850MW battery on the state’s Central Coast will allow network operators to move greater amounts of electricity over existing transmission lines, with the battery serving as a “shock absorber” during power surges such as those that occur from bush fires or lightning strikes.
This will contribute to more reliable electricity supply and lower prices for consumers.
Connecting with existing transmission networks, the Waratah Super Battery will help the future flow of electricity to give households and businesses in the National Electricity Market greater access to clean, cheaper energy.
Minister for Climate Change and Energy Chris Bowen said increasing storage capacity was crucial for the stability of the energy grid.
“The Waratah Super Battery will help stabilise the electricity network and help deliver more of the cleanest, cheapest form of energy for Australian businesses and households,” Minister Bowen said.
“The Albanese Government is already investing heavily through the CEFC on big battery projects in NSW, Victoria, South Australia and the ACT, as well as our $20 billion investment in Rewiring the Nation to upgrade and expand the grid to support Australia’s transformation to renewable energy.
“Together we are working with states and other stakeholders across the board to deliver the electricity system strength needed to power Australia with cleaner, cheaper energy.”
“Innovative projects like this one are critical to supporting our state’s transition to net zero as soon as possible,” said NSW Energy Minister Penny Sharpe.
“This is a world-leading project being delivered here in New South Wales.
“The Waratah Super Battery is an excellent example of how our state can deliver clean, efficient and innovative infrastructure that benefits homes and businesses across NSW.”
The Waratah Super Battery is part of the Sydney Ring Project, which is a priority in the Australian Energy Market Operator’s 2022 Integrated System Plan (ISP) – the roadmap for investment needed for a reliable modern grid, backed by the Rewiring the Nation fund.
This announcement builds on the Albanese Government’s Capacity Investment Scheme which will unlock around $10 billion of investment and add 6GW to support grid reliability and security after the Liberals and Nationals decade of energy policy chaos, which saw 4GW of dispatchable generation leave the east coast grid with only 1GW to replace.
The Albanese Government has taken decisive action to shield NSW families from the worst of the energy price hikes, including capping coal and gas prices and providing households doing it tough with targeted Energy Price Relief Plan rebates.