Equis Development the State Electricity Commission (SEC) of the state government of Victoria, Australia, have reached financial closure for the first development phase of the Melbourne Renewable Energy Hub (MREH) project.
This phase consists of the installation of three smaller energy storage projects, two 400MWh facilities with 2-hour storage capacity each and another facility with 800MWH of four-hour storage capacity.
The first two batteries will be owned 70% by Equis and 30% by SEC, while the third one will be 51% owned by Equis and 49% by SEC.
Construction works are already underway.
For more information, please visit EICDataStream.