Tesla Flips Switch on World's Largest Lithium Ion Battery in Australia

Tesla Flips Switch on World's Largest Lithium Ion Battery in Australia

Tesla officially delivered the world's largest battery energy storage system of 100 MW/129 MWh in South Australia within the deadline of 100 days (since signing the deal) after a week long of tests.

South Australia, which relies heavily on solar and wind-generated energy, has been scrambling to find a way to bolster its fragile power grid since the entire state suffered a blackout during a storm past year.

Audrey Zibelman, chief executive of Australian Energy Market Operator Ltd., which manages the Australian electricity grid, said on Tuesday she expected the battery would be ready by Friday, the first day of the Australian summer when power use on air conditioning soars. "This is history in the making", said South Australian Premier Jay Weatherill in reference to the big battery's launching.

About a year ago, the entire South Australia suffered a series of blackouts, pushing its government to raise a $550 million project aimed at guaranteeing electric supply and shoring up the state's power grid. Musk has said it was three times more powerful than the world's next biggest battery, and promised to deliver it for free had it not been built on schedule. "That, of course, has now been debunked as a myth".

The battery can store enough energy to power around 30,000 homes for more than an hour.

Located near Jamestown, about 200 kilometers north of Adelaide, the Tesla-built 100 megawatt lithium ion battery is connected to a wind farm run by French energy company Neoen. In a statement, the California-based firm said the project in South Australia showed "that a sustainable, effective energy solution is possible".

Tesla said the battery will help solve the state's power shortage problems and assist during summertime peak loads. Australia is also a major exporter of coal, which fires much of its electricity generation and makes the country one of the world's worst greenhouse gas polluters on a per capita basis.



Latest news

Lebanon's political crisis over, says President Michel Aoun
He also drew attention to Italy's "key" participation in the UNIFIL peacekeeping mission in Lebanon, which was established in 1978.

$3.64 EPS Expected for Sanderson Farms, Inc. (SAFM)
Ny State Common Retirement Fund accumulated 0.02% or 107,444 shares. 34,200 were accumulated by Swiss Bancshares. (NASDAQ:SAFM). Following the transaction, the treasurer now directly owns 87,437 shares in the company, valued at approximately $9,068,091.27.

How Analysts Feel About Rowan Companies plc (RDC) After Today's Huge Increase?
CANNELL PETER B & CO INC owned 0.16% of Pareteum Corporation (TEUM) worth $64000 at the end of the most recent reporting period. Several large investors have recently bought and sold shares of the company. 97 funds opened positions while 651 raised stakes.

Esperion Therapeutics, Inc. (ESPR) Stake Increased by Candriam Luxembourg SCA
COPYRIGHT VIOLATION WARNING: "Esperion Therapeutics, Inc". (NASDAQ:ESPR). 8,376 were reported by Wellington Mgmt Llp. The Group One Trading Lp holds 10,810 shares with $500,000 value, down from 58,312 last quarter. (NASDAQ:ESPR).

Novavax Inc (NASDAQ:NVAX) Institutional Investor Sentiment Analysis
It fall, as 16 investors sold Novavax, Inc . shares while 30 reduced holdings. 16 funds opened positions while 31 raised stakes. Seaport Global Securities reiterated a "neutral" rating on shares of Novavax in a research report on Friday, October 6th.

Other news