AGL Energy reached a final investment decision for a 500 MW grid-scale battery at its Hunter Energy Hub in New South Wales.
The battery, which has an expected lifespan of 20 years, is set to begin construction in 2024 and is expected to start operations by mid-2026.
The construction cost amounts to approximately $750 million. The battery will be funded through AGL's balance sheet, using operating cash flows and existing debt facilities.
Fluence will serve as the project's preferred engineering, procurement, and construction provider, and the project will receive support from a $35 million ARENA grant and a long-term energy service agreement.