- Energy storage company 1414 Degrees’ (14D) South Australian Government Crown Sponsorship for the Aurora Energy Project has been extended
- The extension is to support the construction of the battery and the company’s thermal energy storage system
- The extension will allow the project’s initial battery storage component to increase from 70 megawatts/70 megawatts per hour to 140 megawatts/140 megawatts per hour
- 1414 Degrees is planning on increasing the storage even further to 140 megawatts/280 megawatts per hour in later stages
- On the market today, 1414 Degrees is up 5.08 per cent and is trading at 15.5 cents per share
The South Australian Government has extended its Crown Sponsorship of 1414 Degrees’ Aurora Energy Project.
It has been extended to support the construction of the project’s battery and thermal energy storage system.
Crown Sponsorship is awarded by a state government agency, in this case the Department of Energy and Mining.
Aurora Energy is located near Port Augusta in South Australia. 1414 Degrees is aiming to develop the project into a hybrid power plant.
The sponsorship was initially provided for a project scope of 150 megawatts concentrated solar power and 70 megawatts solar, this was then extended in February to include 70 megawatts of battery storage and 2 megawatts thermal
energy storage.
Now the Crown Sponsorship has now been approved to increase the battery storage component from 70 megawatts/70 megawatts per hour to 140 megawatts/140 megawatts per hour in the initial stage.
Notably, 1414 Degrees is planning on increasing the storage even further to 140 megawatts/280 megawatts per hour in later stages.
On the market today, 1414 Degrees is up 5.08 per cent and is trading at 15.5 cents per share at 11:13 am AEST.