Snowy Hydro and Akaysha Energy have announced a 15-year virtual toll agreement with Akaysha Energy for the 3.1GW Elaine Battery Energy Storage System (BESS) in Victoria.

With a contracted capacity of 220MW, it is the largest four-hour virtual toll agreement in Australia, setting a precedent for the sector. A virtual toll is a contract that offers a fixed fee to asset owners whilst they still retain physical control of the system.

Snowy Hydro CEO, Dennis Barnes said the partnership marks a significant step in supporting Australia’s renewable energy transition: “This deal with Akaysha adds a new short-duration storage layer to our portfolio, which will work hand-in-hand with the long-duration storage capabilities of our pumped hydro assets”.

The Elaine BESS is strategically located in South West Victoria, being relatively close to the large load centre of Melbourne and providing Snowy with transmission diversification benefits. The development of the Elaine BESS helps support reliable electricity supply to Victoria.

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