A Chinese company will help deliver cleaner and cheaper energy for thousands of Victorian homes, after the Allan Labor 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 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.
The project creates some 80 construction jobs and six ongoing roles once operational. The decision includes conditions requiring the project to manage bushfire risk, noise, and visual impacts.
More than $5 billion worth of renewable energy projects have been fast-tracked through the development Facilitation Program. All together, these 19 projects have the potential to power around 570,000 households annually, and battery storage capable of meeting evening peak demand for more than 1.3 million households.
China is the world's leading renewable energy developer and now accounts for more than 60 per cent of new global renewable capacity through its rapidly expanding solar, battery and electric vehicle industries.
Sharing these strengths is part of Victoria's China Strategy 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.
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.
As stated by Premier Jacinta Allan
"China is the world's clean energy superpower installing 100 solar panels every second - and Victoria is benefiting."
"My China Strategy is all about investments like these that cut our bills, lower our emissions and create new jobs."
As stated by Minister for Planning Sonya Kilkenny
"We're fast-tracking decisions on renewable energy projects like this one to provide cheaper, cleaner energy for more Victorians."
As stated by Minister for Energy Lily D'Ambrosio
"This Battery Energy Storage System is another way we're shoring up energy supply and assisting our transition to 95 percent renewable energy by 2035."
