Solar and Batteries: The Energy Transition Catalyst
A leading investor in renewable energy infrastructure has highlighted the significant impact of declining solar and battery costs on accelerating the shift towards green energy. Quinbrook Infrastructure Investors, based in Brisbane, has a substantial global presence with over $US7 billion invested in equity across more than $US30 billion worth of projects.
The company recently announced plans to deploy several large-scale solar battery systems, each capable of storing eight hours of power. These installations aim to provide reliable and cost-effective energy to support both new and existing energy-intensive industries.
Transition in Energy Landscape
Quinbrook’s ambitious initiative comes at a crucial juncture, challenging the prevailing narrative that only fossil fuel “baseload” power can offer affordability and reliability. This shift was validated when mining behemoth Rio Tinto secured a landmark 15-year contract with Edify Energy for a solar and battery project, ensuring the sustainability of its Boyne Island smelter and associated refineries in Gladstone.
Rio Tinto’s decision underscores the growing viability of renewable energy sources, particularly solar and battery technology, in meeting the energy demands of heavy industries like aluminium smelting. The move signifies a pivotal moment in the energy sector, signalling a shift towards more sustainable and cost-effective power solutions.
Advancements in Storage Technology
Quinbrook has already implemented multiple solar battery projects in the US, with a recent milestone being the financing of the largest solar battery project in the UK. The company’s focus on DC-coupled systems, where batteries are charged directly from solar farms, ensures a steady and predictable energy output, addressing challenges such as evening peak demand.
The decreasing costs and improved energy density of batteries have enabled the transition from four-hour to eight-hour storage solutions, making renewable energy more competitive in the market. Quinbrook sees Australia as a prime location for large-scale solar and battery projects, anticipating a transformative impact on the energy landscape.
Emerging Opportunities in Green Metals
Besides solar and battery projects, Quinbrook is exploring opportunities in green metals industries, particularly in regions like Gladstone and Townsville. The company is investigating the potential of magnetite ore resources for the development of green iron and other sustainable metal products.
By leveraging renewable energy sources, high-quality resources, and advanced technologies, Quinbrook aims to drive innovation in the production of green metals, paving the way for a more sustainable industrial ecosystem.
Future Prospects and Innovations
Looking ahead, Quinbrook envisions a future where renewable energy solutions, such as solar and battery technology, can meet the 24/7 power demands of various industries, including data centres. The company’s collaborations and projects in regions like the Northern Territory demonstrate a commitment to advancing clean energy initiatives and fostering economic growth.
With the potential for robotic installation techniques to further reduce solar energy costs and increase efficiency, the renewable energy sector is poised for continued growth and innovation. By embracing new technologies and sustainable practices, Quinbrook and its partners are driving the transition towards a greener and more resilient energy landscape.
