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.
Belden Inc to Issue Quarterly Dividend of $0.05 (BDC)
Stifel Nicolaus has "Buy" rating and $87.0 target. (NYSE:BDC) earned "Buy" rating by Canaccord Genuity on Wednesday, August 16. Finally, State of Tennessee Treasury Department increased its position in shares of Belden by 12.5% during the 3rd quarter.