Carnegie raises $5.3 million for solar, battery, wave

Carnegie Clean Energy, a clean energy company based in Perth, have raised $5.3 million for improvements and investments in its solar, battery, and wave energy businesses.

Carnegie Clean Energy Funding Round

Carnegie Clean Energy Funding Round
Carnegie Clean Energy Funding Round (source: https://www.carnegiece.com/)

The raised funds will be invested into working capital so Carnegie is able to complete its existing projects which include wave, solar, and battery storage microgrid projects. The extra money will ‘further develop its contract and project pipelines, and to further expand the business’, according to RenewEconomy

Carnegie’s CEO Michael Ottoviano has been in the press a lot lately and made some comments after the successful funding round:

“We thank our shareholders for their support in the capital raise,” he said.

“We will now use this new capital and our existing funds to accelerate our businesses towards financial sustainability.”

“We have achieved this at a time when this sector is at the start of a period of rapid growth. Our ability to be innovative both technically and commercially creates the opportunity to accelerate the growth our business to achieve and sustain profitable ongoing operations within the next 12-24 months.”

Dr.Ottoviano was quoted last year discussing the increasing competitiveness of renewables:

“We are fielding an increasing number of opportunities that historically were performed by diesel or gas turbines, for which battery systems are now increasingly competitive. The CCE battery solution offers faster response time, lower operating cost, no greenhouse gas pollution, and silent operation.”

Carnegie have also been responsible for some huge solar projects in Australia (which are in various states of progress), namely:

The company was founded in 1987 as Carnegie Wave Energy but has since expanded and renamed itself after purchasing solar and battery microgrid developer Energy Made Clean. Click here to visit the Carnegie website. 

Keep an eye on CCE on the ASX! Current price is at $0.032 as per InvestSmart.

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General Motors Holden Site – 2MW, 500kWh BESS

Carnegie Clean Energy reported earlier this week that they have secured $3 million in government funding to build a 2MW, 500 kWh Battery Energy Storage System (BESS) at the General Motors Holden site in Elizabeth, South Australia. The funding will come from the Renewable Technology Fund, part of the South Australian Government’s Energy Plan.

Solar microgrid at the General Motors Holden Site 

General Motors Holden Site - Carnegie Battery Energy Storage System Example
General Motors Holden Site – Carnegie Battery Energy Storage System Example (source: carnegiece.com)

The site will provide grid-support services during peak times and, according to Infrastructure Magazine, will operate in tandem with the existing diesel backup generators at Elizabeth. 

Premier of South Australia Jay Weatherill said “This solar and battery project by Carnegie is part of a wave of new investment in South Australia we have leveraged through the $150 million Renewable Technology Fund announced as part of our energy plan.

“Renewable energy projects like this also reduce demand on the grid during peak times, which puts downward pressure on power prices for all South Australians. This project is symbolic of the broader transition we are seeing in our economy away from traditional manufacturing towards high-tech industries creating jobs of the future for South Australians” Weatherill added.

Carnegie’s Managing Director, Dr Michael Ottaviano, said, “We are fielding an increasing number of opportunities that historically were performed by diesel or gas turbines, for which battery systems are now increasingly competitive. The CCE battery solution offers faster response time, lower operating cost, no greenhouse gas pollution, and silent operation. This is Carnegie’s first project in South Australia and means we are now delivering projects right across Australia.”

According to Dr Ottoviano the company will cover approximately 20% of the plant’s roof space initially, but there is no reason they couldn’t end up using the other 80% as well: 

“It’s a way of looking at what formerly would have been just a roof and turning it into an energy production asset,” he said in news.com.au

South Australian Energy Minister Tom Koutsantonis discussed the effect it and other renewable investments are having on the job market: 

“Jobs are our number one priority and this solar battery project by Carnegie is part of a wave of new investment,” he said.

There have been many exciting developments for South Australian solar over the past 12 months and it’s great to see them keep coming. 

The microgrid is expected to commence operation by December. 

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Renewable Energy Storage Target for South Australia

South Australian premier Jay Weatherill is on the campaign trail at the moment – promising to introduce Australia’s first renewable energy storage target (which the state will subsidise) and also upping the current state-based 2025 renewable energy target from 50% to 75% (given they’re already at 48.9%).

Renewable Energy Storage Target

Jay Weatherill - Renewable Energy Storage Target for South Australia
Jay Weatherill – Renewable Energy Storage Target for South Australia (source: @jayweatherill on Twitter)

Weatherill was at an election forum which was about the environment on Tuesday (the 20th) and said the South Australian state election to be held on March 17 will be primarily focused on renewable energy – a ‘referendum on renewables’ of sorts: 

“If we go down, they will be wagging their fingers at everybody around the nation, to say that’s what happens if you push too hard into renewable energy,” Weatherill said. “That’s what the prime minister is trying to do and that’s what is going to happen.”

He has promised to lift the renewable energy target to 75% and implement a renewable energy storage target which would be 25% of SA’s peak demand – approximately 750MW of storage. The government would help the private sector meet this target through subsidy arrangements. 

Weatherill discussed his party’s policy further with Guardian Australia, noting that South Australia are happy to continue ‘going it alone’ if they’re not going to get any help from the Turnbull government:

“It’s a rejection of the federal government’s approach – and the state Liberal party’s approach,” Weatherill said. “We’re not interested in putting our leadership in renewable energy in the hands of people that don’t believe in a renewable energy future.”

Carnegie Clean Energy reported yesterday that they have secured $3 million in government funding to build a 2MW, 500 kWh Battery Energy Storage System (BESS) at the General Motors Holden site in Elizabeth, South Australia. With the rapidly decreasing cost of large-scale energy storage, it seems that the Renewable Energy Storage target shouldn’t be too much of a problem and will be a massive help to baseline power and will also assist in reducing the blackouts which plagued the country in 2016.

“This solar and battery project by Carnegie is part of a wave of new investment in South Australia we have leveraged through the $150m Renewable Technology Fund announced as part of our energy plan,” Weatherill said at the time.

In further news, Weatherill has today announced that South Australian households will be able to apply for a $10,000 loan to cover the cost of installing solar panels and battery storage – which we’ll cover tomorrow. 

 

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Kalbarri microgrid: Carnegie to build.

The long awaited Kalbarri microgrid will be built this year and launched in 2019, as Renewable energy developer Carnegie Clean Energy have signed a $6.8 million contract with state-owned Western Power to build a 5MW Battery Energy Storage System (BESS) in the area. 

Kalbarri Microgrid

Kalbarri Microgrid Details
Kalbarri Microgrid Details (source: Western Power)

According to the contract, Carnegie’s subsidiary Energy Made Clean will be teaming up with JV partner Lendlease services to build the sustainable energy storage system. It will be able to generate 4.5MWh and a minimum of 2MWh will always be accessible for backup services. 

The BESS facility will have two different modes – “Island Mode”, and “Grid Mode”, with the former allowing operation independent of the electricity grid. Grid mode will do what it says on the tin – helping provide network stabilisation for voltage and frequency to other generation sources. 

Carnegie Clean Energy CEO Dr Michael Ottaviano was ecstatic about winning the contract: 

“We’re excited to have won an extremely competitive, global tender using the latest in storage and control technologies. This reinforces Carnegie’s leadership in the design and delivery of innovative energy solutions in Australia,” he said. 

“(this) contract award comes just over 12 months after the establishment of the EMC/Lendlease JV which has secured $25m in orders in the last 4 weeks with Kalbarri and our Northam Solar Farm. With tender cycles running in excess of 12 months, and a clear focus on delivery of high-value projects for utility grade customers, we are just starting to see the results of our hard work over the past year.” Mr Ottaviano continued. 

West Australian Energy Minister Ben Wyatt also spoke of the BESS microgrid in Kalbarri and how it is a “game changer” for communities “…subject to environmental factors that can cause outages. The improved reliability for the region will boost the local tourism and retail operations, as well as enhance the lifestyle of residents.”

 

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Alice Springs Solar to end blackouts

Some big news coming out for residents suffering the solar drought in the Northern Territory – the new Battery Energy Storage System will transform Alice Springs solar and is slated to be one of the largest grid-connected storage solutions in all of Australia.

BESS and Alice Springs solar

Solar Energy in the Northern Territory has lagged far behind the other Australian states in terms of residential and commercial solar uptake (January 2017 PV output was 4,049MWh vs Queensland’s 126,629MWh) – so it’s great to see new government owned company Territory Generation announce the Battery Energy Storage System (BESS).

Territory Generation Logo - Alice Springs Solar
Territory Generation Logo (source: territorygeneration.com.au)

The cutting-edge BESS will be installed by Vector Energy and will be a 5mW storage system, capable of supplying energy to the grid for up to 40 minutes if required.

It will cost approximately $8.3 million to develop and modelling done by Territory Generation, or ‘T-Gen’, shows that this will  be recouped within four to five years. Chief Executive Officer of Territory Generation Tim Duignan, was quoted as saying “We’re replacing aged electricity generators with the latest equipment, to provide efficient and reliable power supply, drive down the cost of producing electricity and to support a transition to renewable energy.”

Duignan also noted that this is an important project as it improves the reliability of base-load power – imperative as we transition to renewables (there are overcast days even in the Northern Territory). Just having solar panels or wind generators isn’t enough – as we saw in South Australia last year if base-load power isn’t sufficient it will lead to widespread blackouts. On that note, in the same week as the ABC are reporting that South Australian power prices will be the highest in the world as of Saturday, it’s good to see projects with clear modelling and positive financials – there is quite a lot of short-medium term pain coming up for energy bills nationwide.

The BESS is set to be completed by late 2017.

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