Shell Energy Operations and Macquarie Asset Management’s Green Investment Group (GIG) are collaborating on a 200-MW/400-MWh battery energy storage project in Victoria, Australia.
Australia-based Perfection Private has joined as a minority equity partner.
The partners have already achieved financial closure on the project and are expected to finalize it late next year,
Dubbed Rangebank BESS, the system will have the storage capacity to supply roughly 80,000 homes across Victoria for an hour during peak periods.
Its operation will help stabilize the state’s electricity network by discharging electricity at peak demand periods.
Fluence Energy Inc, the energy storage joint venture of AES Corp and Siemens AG, will build, service, and maintain the energy storage facility.
Shell Energy will have access to 100 percent of the battery’s capacity under a 20-year power off-take agreement.
Meanwhile, GIG will transfer its stake to Eku Energy, its standalone battery-storage-focused business.


OpenAI Restricts Astra AI Over Cyberattack Risks
UOB Q2 Net Profit Rises 10% as Wealth Management Growth Boosts Earnings
Asian Currencies Steady as Markets Await U.S. Jobs Data
China Trade Surplus Beats Forecasts in July as Exports Stay Strong
Nintendo Shares Jump as Switch 2 Sales Boost Earnings
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade
SK Hynix, Samsung Lead Asian Chip Stock Selloff After Sandisk, Western Digital Outlook
Qantas Shares Climb as Long-Haul Pilot Deal Eases Strike Concerns
Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico
US Job Growth Seen Picking Up in July
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision
DoorDash Q2 Revenue Jumps 36% as Orders and DashPass Growth Drive Results
How ongoing deforestation is rooted in colonialism and its management practices
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Fears
Parasites are ecological dark matter – and they need protecting
BOJ Signals Faster Rate Hikes as Inflation Risks Raise September Move Odds 



