Meridian Chief Executive Neal Barclay said the company’s approach to a battery storage system has evolved during its development phase.
“A North Island battery was originally part of our response package to Rio Tinto’s termination of its electricity contract for the Tiwai Point Aluminium Smelter. As we developed the opportunity, the BESS business case proved to be an economic investment irrespective of Rio Tinto’s future in New Zealand,” Barclay said.
He said the BESS offers multiple new revenue streams, providing the ability to load shift between price periods and to participate in the North Island reserve electricity market.
“As intermittent renewable generation increases in this country, the Ruakākā Battery Energy Storage System will help manage supply fluctuations through a low carbon footprint, reducing this country’s reliance on fossil fuels,” Barclay said.
“We have a bold vision for Ruakākā, with a grid-scale solar farm planned to further speed up our transition to a productive low carbon economy. The shared infrastructure provided by the BESS will significantly improve the economics of the future solar farm.’’
Global battery specialist Saft will provide integrated battery supply, installation, commissioning and operational services for the Ruakākā BESS.
The battery storage will be on land Meridian bought from Rio Tinto. It is expected to be completed in 2024.