Australian Renewable Energy Agency to Fund Construction of 8 Grid-Forming Batteries

A worker checks the fence for the compound housing the Hornsdale Power Reserve, featuring the world's largest lithium ion battery made by Tesla, during the official launch near the South Australian town of Jamestown, in Australia, Dec. 1, 2017. David Gray/Reuters

The Australian Renewable Energy Agency (ARENA) announced Saturday that it would fund the construction of eight large-scale batteries that will boost the country’s grid-forming storage capacity tenfold.

Federal Minister for Climate Change and Energy, Chris Bowen, said that ARENA would allocate $176 million to the projects, which are expected to cost $2.7 billion.