SBA welcomes South Australia power deal

Sustainable Business Australia (SBA) today welcomed today’s announcement by the Government of South Australia of a $550 million plan to deliver security in pricing and supply of energy, partly through the establishment of a grid connected battery storage system.

$150 million of the $550 million will be directed to a Renewable Technology Fund. The Government has started the first project to be funded is a grid connected battery, providing 100 megawatts of power.

The South Australian government’s move will help Australia develop battery and storage businesses and know-how in what will be a huge growth area this century.

This is the sort of catalyst Australia needs to turbo charge its fledgling battery storage industry. It’s a big opportunity for the country to build an industry with sustainability at its core that will be in high demand globally this century.

The South Australian Government move aligns perfectly with the World Business Council for Sustainable Development Low Carbon Technology Partnerships initiative - one of the flagship outcomes of the Paris Climate Change Agreement (COP21, December 2015).

South Australia is regarded as one of the leading ‘small states’ of the world acting on climate change.

Many companies now have targets relating to renewable energy procurement, energy efficiency or cutting Greenhouse Gas emissions.

This fast-growing number of companies is procuring power from renewable sources to reduce their carbon footprint and showcase leadership, as well as to mitigate energy procurement costs and risks. The move by South Australia will make it a target for the supply of low carbon energy for business throughout Australia.

Contact: Andrew Petersen, andrew.petersen@sba.asn.au, +61 412 545 994

Background:

SA: http://www.premier.sa.gov.au/index.php/jay-weatherill-news-releases/7198-south-australia-is-taking-charge-of-its-energy-future

LCTPi: http://lctpi.wbcsd.org/portfolio-item/renewables/

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