Australian renewables investor Lyon Group has penned an agreement with China Huadian Corporation which will see the duo co-develop and invest in power-plus-battery energy storage systems across Australia, China and other Asian markets.
Government adamant it will ‘not only meet, but also exceed’ 175GW-by-2022 goal despite predictions to the contrary by CRISIL, which warned policy swings are putting off investors.
Industrial giant gets behind scheme proposed to help Western Australia become global forerunner by exporting renewable hydrogen to Japan, Korea and others.
The equity transfer comes weeks after Meralco launched a 2MW/2MWh battery electric storage system 50km north of Manila that will work to stabilise energy from a 3.8MW solar farm.