Vast Renewables and 1414 Degrees Partner with BHP Subsidiary for Clean Energy Project in South Australia
Vast Renewables and 1414 Degrees Partner with BHP Subsidiary for Clean Energy Project in South Australia SolarQuarter
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Joint Venture Announces Term Sheet for Access to Hill-to-Hill Transmission Line
Introduction
Vast Renewables Limited and 1414 Degrees Limited, through their joint venture SiliconAurora Pty Ltd, have signed a term sheet with Vast Solar 1 Pty Ltd and OZ Minerals Services Pty Ltd (OZM), a subsidiary of BHP Group Limited (BHP). The term sheet aims to initiate negotiations for a possible binding agreement by September 30, 2024, facilitating access to the ElectraNet-owned Hill-to-Hill Transmission Line (H2H) near Port Augusta, South Australia, for the Aurora Energy Precinct.
Aurora Energy Precinct
The Aurora Energy Precinct, owned by SiliconAurora, is set to house a 140MW (2-hour) battery energy storage system (BESS). Additionally, Vast Renewables plans to develop Vast Solar 1 (VS1), a 30MW concentrated solar thermal power (CSP) plant with 288 MWh of thermal storage, on the same site. VS1 has received conditional grant funding of up to AUD $65 million from the Australian Renewable Energy Agency (ARENA). It will be co-located with Vast’s Solar Methanol 1 (SM1) project, a green methanol demonstration plant in collaboration with German integrated energy giant Mabanaft, receiving conditional grant funding of up to AUD $19.48 million and up to EUR 13.2 million from a joint initiative between the Australian and German Governments.
Connection to Hill-to-Hill Transmission Line
The BESS and VS1 projects are planned to connect to the H2H, aiming to provide clean and reliable energy to Australian households and businesses. However, connection to the H2H is contingent upon further negotiations and agreement with OZM and ElectraNet, as outlined in the term sheet. The term sheet also includes provisions for termination under specific scenarios, including if OZM is not satisfied with the risks associated with the proposed connections following a technical engineering review.
Sustainable Development Goals
The joint venture between Vast Renewables Limited and 1414 Degrees Limited aligns with several Sustainable Development Goals (SDGs) set by the United Nations. These goals include:
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 13: Climate Action
- SDG 17: Partnerships for the Goals
Conclusion
Craig Wood, CEO of Vast Renewables, emphasizes the significance of integrating dispatchable renewable energy with long-duration storage, such as their proprietary CSP v.3.0 technology, into Australia’s electricity grid. Wood expresses optimism regarding the execution of the term sheet and looks forward to advancing discussions with BHP to finalize commercial and technical terms for progressing the Precinct.
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 13: Climate Action
The article discusses the development of renewable energy projects, specifically a battery energy storage system (BESS) and a concentrated solar thermal power (CSP) plant. These projects contribute to SDG 7 by promoting affordable and clean energy. Additionally, the article mentions the collaboration between Australian and German governments, highlighting international cooperation for sustainable development, which aligns with SDG 17.
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase substantially the share of renewable energy in the global energy mix.
- SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure.
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning.
The development of the BESS and CSP plant contributes to SDG 7.2 by increasing the share of renewable energy in Australia’s energy mix. The projects also align with SDG 9.1 as they aim to develop sustainable and resilient infrastructure for clean energy generation. Furthermore, the integration of climate change measures into the projects’ planning and policies supports SDG 13.2.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
Yes, the article mentions several indicators that can be used to measure progress towards the identified targets:
- Share of renewable energy in the energy mix: The development of the BESS and CSP plant contributes to increasing the share of renewable energy in Australia’s energy mix.
- Investment in sustainable infrastructure: The funding received from the Australian Renewable Energy Agency (ARENA) and the joint initiative between the Australian and German Governments indicates investment in sustainable infrastructure.
- Integration of climate change measures: The projects’ planning and policies should include measures to address climate change, such as reducing greenhouse gas emissions and promoting clean energy.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase substantially the share of renewable energy in the global energy mix. | – Share of renewable energy in Australia’s energy mix. |
| SDG 9: Industry, Innovation, and Infrastructure | 9.1: Develop quality, reliable, sustainable, and resilient infrastructure. | – Investment in sustainable infrastructure. – Development of the battery energy storage system (BESS) and concentrated solar thermal power (CSP) plant. |
| 17.17: Encourage and promote effective public, public-private, and civil society partnerships. | – Collaboration between Australian and German governments. | |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning. | – Integration of climate change measures in the projects’ planning and policies. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: solarquarter.com
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