The NZ Battery Project was undertaken to explore ways to solve the dry year problem in New Zealand without using fossil fuels. Cabinet agreed to progress the New Zealand Battery Project to its next phase of work. You can access other relevant reports on the MBIE website here.
This paper seeks Cabinet’s agreement to progress the New Zealand Battery Project to its next phase of work. propose that work on the option of a pumped hydro scheme at Lake Onslow (the Lake Onslow option) should progress to Phase 2a which will involve further technical design and development, policy work and decision-making.
The mean charging spot price was $123/MWh and the median was $132/MWh. As New Zealand electrifies, more grid-scale batteries will support the growing renewable energy supply. Meridian Energy is building a 100MW (200MWh) battery near Ruakākā in sunny Northland. This battery is expected to be commissioned in September 2024.
Over the period 2016-2023 the New Zealand Government investigated options to ensure sufficient energy storage for electricity generation in the event of future low rainfall resulting in inadequate hydro lake storage. (The NZ battery project). The bioenergy options investigated included energy storage from gaseous, liquid and solid biofuels.
A detailed business case is expected to be developed by the end of 2024, followed by a final investment decision, which is expected to take a further 2 years. Read more about the NZ Battery Project Read the Minister’s press release — Beehive.govt.nz Email: [email protected]
The lithium-ion batteries (similar technology to those used in EVs and laptops) will store electricity generated by New Zealand’s hydro, geothermal and wind power stations when there is low demand. Without this storage this electricity would otherwise go to waste.
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