AGL Energy, Australia’s largest coal power generator, has acquired a newly approved solar storage project in South Australia. This investment signifies AGL’s deepening commitment to solar storage technology, which aims to provide solar energy even after sunset. AGL Energy is an Australian energy company focused on providing gas and electricity to residential and business customers. They are also involved in energy generation and renewable energy projects.
The Yadnarie project, located near Cleve on the Eyre Peninsula, recently received state government approval. Construction costs are estimated to be several hundred million dollars. The facility will utilise nearly 41,000 mirrors to capture sunlight and heat, storing thermal energy in water dams. This stored heat can then be used to power a turbine, generating electricity on demand, especially during peak hours when demand and prices are elevated.
AGL has agreed to pay approximately €4 million ($7.2 million) to Photon Energy, the Netherlands-based developer, for the Yadnarie project. The project will be developed in two stages, and is expected to have a capacity of up to 150 megawatts of solar power and a 90 MW thermal plant providing eight hours of storage.
