Posted on: 21/10/2020
SmartestEnergy Australia have signed a Memorandum of Understanding (MOU) with CEP.Energy to manage and operate the first batteries delivered as a part of their wider planned 1,000MW Virtual Power Plant (VPP) project
The first stage of the project will see SmartestEnergy Australia manage and operate the first 400MW of Virtual Power Plant (VPP) for CEP.Energy located at various industrial park sites across the country.
“As a next generation energy company, we’re delighted to be associated with this largescale and innovative project led by CEP.Energy in Australia. It will shape the way renewable energy generation and storage projects are delivered at scale leveraging the latest technology,” said Robert Owens, SmartestEnergy Australia’s CEO.
The CEP.Energy project will go on to build an impressive 1,000MW battery bank, made up of aggregated batteries in a VPP, including the commissioning of three largescale utility batteries.
By connecting solar generation assets – primarily rooftop solar installations – to the energy network and largescale battery array, the project will ensure ongoing reliability and sustained energy supply to consumers.
Landlords and tenants of properties across Australia will benefit from lower energy costs as a result of this innovative VPP project and total renewable energy solution.
Peter Wright, CEP.Energy CEO, said, “SmartestEnergy Limited has a proven track record in the commercial and industrial energy space in the UK and has recently entered Australia, and we are pleased they have come on board to be our retailer of choice. They will use their experience and battery and solar technology to offer electricity at a materially lower cost.’’
CEP.Energy’s $1 Billion (AUD) capital raising efforts are closing now and were launched by the former New South Wales (NSW) Premier, Morris Iemma, in June last year. Works are expected to commence as soon as Victoria comes out of lockdown.