Vast announces Term Sheet to facilitate transmission access for Aurora Energy Precinct
Retrieved on:
Monday, April 8, 2024
Electricity, ElectraNet, EUR, Term sheet, VS1, SM1, Hill, BHP, ARENA, Aurora Energy, H2H, OZM, Precinct, CSP, BESS, Renewable energy
The Precinct is owned by SiliconAurora, which plans to develop a 140MW (2 hour) battery energy storage system (BESS) on the site.
Key Points:
- The Precinct is owned by SiliconAurora, which plans to develop a 140MW (2 hour) battery energy storage system (BESS) on the site.
- Additionally, Vast plans to develop Vast Solar 1 (VS1), a 30MW concentrated solar thermal power (CSP) plant with 288 MWh of thermal storage, on the Precinct site.
- VS1 was awarded up to AUD $65 million in conditional grant funding by the Australian Renewable Energy Agency (ARENA).
- Connection to the H2H will be subject to further negotiations and agreement with OZM and ElectraNet as contemplated under the Term Sheet.