A Chinese company will help deliver cleaner and cheaper energy for thousands of homes, after Victorian Government gave the green light to a multi-million-dollar renewable energy project in North-East Victoria.
Today in Beijing, Premier Jacinta Allan met with Trina Solar – who are building a 500-megawatt Kiewa Valley Battery Energy Storage System (BESS) close to the Dederang Terminal Station.
The $453 million battery project has been fast-tracked through the Labor Government’s Development Facilitation Program to deliver cleaner and cheaper energy projects sooner.
The Government says the battery will soak up and store cheap renewable energy during the day and pump it back into the grid at times of peak demand – enough to power up to 172,000 Victorian homes a year.
“China is the world’s clean energy superpower installing 100 solar panels every second – and Victoria is benefiting,” said Premier Allan.
“My China Strategy is all about investments like these that cut our bills, lower our emissions and create new jobs.”
China is the world’s leading renewable energy developer and now accounts for more than 60% of new global renewable capacity through its rapidly expanding solar, battery and electric vehicle industries.
The Premier said that sharing these strengths is part of Victoria’s China Strategy, which sets out a five-year roadmap to open doors for Victorian businesses and ensure the benefits flow across the state — including in regional Victoria.
Through its China Strategy, Victoria aims to be the first port of call for Chinese business to innovate and invest – delivering jobs and stability in an increasingly uncertain global economy, she said.
The number one investment objective in the China Strategy is collaborating with businesses to achieve the state’s clean energy goals. The Strategy also seeks to elevate regional Victoria as the beneficiary of Chinese investment, the Premier confirmed.
