ENGIE has entered into a virtual offtake agreement for Neoen’s Victorian Big Battery (VBB), which will enable the utility to virtually charge or discharge the battery at any time.
This is the first deal of this nature that ENGIE has signed in Australia.
ENGIE, Global Energy Management & Sales (GEMS) ANZ Head of Commercial, Tiburce Blanchy, was excited to announce the agreement.
“This financial offtake agreement will enable ENGIE to replicate the functions of a grid-scale battery, allowing for virtual charging or discharging at any time,” Mr Blanchy said.
“This will help us manage the intermittency of our renewable energy generation portfolio and flexibility of our customer load.
“This virtual battery agreement is an exciting step for ENGIE and will complement our 150MW/150MWh HBESS (Hazelwood Battery Energy Storage System), allowing us to offer increased flexibility in our firming portfolio while we continue to develop other physical BESS projects.
Mr Blanchy said that ENGIE GEMS provides energy and risk management solutions to support its clients and counterparts in the transition towards a carbon neutral economy.
“We have been pleased to work with Neoen on this partnership, which will help our customers meet their sustainability goals and contribute to the continuing decarbonisation of Australia’s energy system,” he said.
“The virtual battery agreement with Neoen’s Victorian Big Battery will commence in late 2024, and will be complemented by a second similar transaction due to start mid-2025.”
Neoen Australia CEO, Jean-Christophe Cheylus, said, “We are delighted to have signed this ‘virtual battery’ contract with ENGIE. It points once more to how this product meets the evolving needs of our customers.”
Featured image: ENGIE
