Infigen (ASX:IFN) has entered into an agreement with TransGrid relating to Infigen’s dispatch of the 50MW/75MWh battery energy storage system that will be built at the Wallgrove substation in New South Wales.
The Wallgrove Grid Battery will be owned, constructed and maintained by TransGrid, with commercial operations expected to start in the second half of 2021.
Infigen’s agreement with TransGrid is for a period of 10 years following the commissioning of the Wallgrove Grid Battery.
TransGrid’s funding arrangements for the Wallgrove Grid Battery include funding from the Australian Renewable Energy Agency (‘ARENA’), as part of ARENA's Advancing Renewables Program, and from the New South Wales Department of Planning, Industry and Environment (‘DPIE’), as part of DPIE’s NSW Emerging Energy Program.
Shares in Infigen (ASX:IFN) are trading 0.5 per cent higher at 93 cents.