Eni enters the Australian renewables market. Australia Limited has completed the acquisition of a solar power plant project in Katherine, Northern Territory, from Katherine Solar Pty Ltd, a joint venture between Australia's Epuron and Britain's Island Green Power.
The works for the start-up of the project should start in the coming weeks and the plant will become commercially operational in the fourth quarter of 2019. Once completed, the project will allow the largest PV power plant in the Northern Territory of Australia with an installed capacity of 33,7 MWp (Mega Watt peak). The plant, powered by photovoltaic panels, will be equipped with an energy storage system, with a capacity of 5,7 MVA/2,9MWh (Mega Volt Ampere and Megawatt hour) made up of batteries and, with a view to optimization and innovation processes, technologies for forecasting weather conditions. The realization of this project will contribute to the achievement of theNorthern Territory Government target of producing 50% of its energy from renewable sources by 2030, especially the photovoltaic power station in operation will avoid the emission of approximately 63,000 tons of CO per year2 in the atmosphere.
The plant - as stated in Eni's official note - will be able to anticipate and compensate for any lower solar radiation, drawing on the storage systems connected to it, so as to minimize the impact on the network. The Australian Epuron will maintain an active role in the management of plant assets once operational.
Eni has been present in Australia since 2000 through its subsidiary Eni Australia Ltd, operator and 100% owner of the Blacktip Gas Project and has a non-operating interest in the Bayu-Undan gas and condensates field and in the associated Darwin LNG plant. Epuron will maintain an active role in asset management of the plant once operational.
In the middle of the day, in one session of Positive business square in which the stock market rises by 1,18%, Eni's share gains 1,23%.
