Jemena drops plans to spend money on 14D’s storage and photo voltaic mission in South Australia

Jemena drops plans to spend money on 14D’s storage and photo voltaic mission in South Australia

April 11 (Renewables Now) – Thermal vitality storage expertise developer 1414 Levels Ltd (ASX:14D) final week mentioned that Ovida Infrastructure Pty Ltd, a totally owned subsidiary of Australian vitality infrastructure proprietor Jemena Pty Ltd, has walked away from plans to spend money on 14D’s Aurora Power Venture close to Port Augusta in South Australia.

The mission has improvement approval for as much as 140 MW/280 MWh of battery storage, 70 MW of photo voltaic photovoltaic (PV) and 150 MW of concentrated solar energy (CSP), in addition to connection to the ElectraNet grid.

In keeping with the announcement, Ovida’s withdrawal displays a call by Jemena, which is owned by State Grid of China and Singapore Energy, to concentrate on investing in its present property.

An exclusivity memorandum of understanding (MoU) signed between the events on the finish of 2021 has been terminated, with 14D to get a AUD-100,000 (USD 74,636/EUR 68,719) termination cost and retain an preliminary cost by Ovida of AUD 300,000.

14D will proceed creating the mission and can search to have interaction with different traders. Its focus stays on finishing a connection settlement and preliminary improvement of a 140-MW/140-MWh battery vitality storage system, pursuing a remaining funding determination for building in late 2022.

(AUD 1 = USD 0.746/EUR 0.687)

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