6 Big Battery Projects Win Federal Funding in Push for 2030 Renewable Target

Published on September 4, 2024

Six new big battery projects—two in Victoria and four in South Australia—have made it to the winning list of the federal government’s initial round of the Capacity Investment Scheme (CIS), a key policy aimed at driving the nation towards its 2030 renewable energy target. The successful projects have committed a total investment of $12.5 million (US$8.4 million) in shared benefits to local project communities and $6.5 million in initiatives for local Indigenous groups, alongside extensive use of local supply chains. These benefits are expected to reach residents by 2027. Together, they will deliver more than 1,000 megawatts (MW) of capacity—significantly exceeding the 600 MW sought in the pilot tender. It includes one of the biggest batteries to be built in Australia, located in the heart of the Latrobe Valley....