Mineral Resources put on watchlist by shareholder
Superannuation fund HESTA has placed the Perth-based mining services firm on watchlist over governance concerns.
No one expected it to be true. But Tesla’s founder Elon Musk kept good on his promise of building the world’s largest lithium-ion battery in 100 days. His self-imposed deadline was December 1, 2017.
After being asked in 2016 by fellow billionaire Mike Cannon-Brookes if he would take funding and build a solution to power South Australia’s mid-north region, Musk replied that not only he’d do it but he would also do it fast or, otherwise, he would not charge a dime for the $50-million project.
Cannon-Brookes approached Musk on Twitter following a major blackout that left around 30,000 homes without power across the state. That’s roughly the number of customers that Tesla’s giant battery will service.
“South Australia is set to have backup power in place this summer through the world’s largest lithium-ion battery, which is set to be energised for the first time in the coming days as it enters a phase of regulatory testing,” state premier Jay Weatherill wrote in a press release. His office is now in charge of taking care of the tab.
“While others are just talking, we are delivering our energy plan,” Weatherill added. “The world’s largest lithium-ion battery will be an important part of our energy mix, and it sends the clearest message that South Australia will be leading renewable energy with battery storage.”
Dubbed “Powerpack,” the humongous artifact is connected to a wind farm operated by French energy firm Neoen. The battery is expected to hold enough power for thousands of homes during periods of excess demand that could result in blackouts.
Last year’s events were caused by severe winds that tore transmission towers from the ground.
5 Comments
Andy Whitten
How much are these “leading” customers paying per kilowatt hour? Why isn’t Weatherill bragging about that?
Danny
Why this ‘technical’ article does not say for how long the batteries will power the ‘thousands of houses’? Is it 10 minutes, 5 minutes , or how long? And how come this was never a problem for the over 50 years since the coal power stations fed cheap and reliable electricity. And how much per kwh the $50millions behemoth store and release electricity to the thousands of houses? This is a disaster beyond belief. I am so happy I will move shortly out, forever, from the most stupid and expensive state of Australia!
toorightmate
It is still to be commissioned and tested.
We might just find that the project is 99% complete for several months/years.
If SA’s wind is to be supplied by Elon, there will be an ample supply.
Scooter
The fact that this will be used to power houses during blackouts is the surest sign that the energy policy of SA has failed. Is there any other nation / state that plans for blackouts due to excess demand rather than planning for demand?
Gary
Correction, last years events were caused by poor planning and forethought for the future.