|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||33.60 - 34.54|
|52 Week Range||26.12 - 45.22|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||858.50|
|Forward Dividend & Yield||0.10 (0.23%)|
|Ex-Dividend Date||Jun 01, 2022|
|1y Target Est||N/A|
Neoen SA has won approval for its big battery in South Australia to provide inertia service to stabilise the grid, a world first for battery energy storage in the push to replace fossil-fueled generators, the French firm said on Wednesday. Neoen's 150-megawatt Hornsdale Power Reserve uses Tesla Inc's Megapack battery system and will now use Tesla's Virtual Machine Mode to deliver inertia services, until now provided by coal-fired and gas-fired power plants with big turbines. Neoen Chairman Xavier Barbaro said extending the range of services the big battery could offer created "additional layers of value for existing battery storage investments".
Neoen SA said its Bulgana wind farm and battery project in Australia has finally been fully switched on two years behind schedule, after overcoming problems hooking up to a grid with limited capacity for an influx of renewable energy. The A$350 million ($253 million) project comprises a 204 megawatt wind farm in the village of Bulgana in Victoria, which first started operating at limited capacity in 2020, and a connected 20 MW battery, which was switched on in July. "Connecting our Bulgana Power Hub to the grid was a long and challenging process, but we are proud of having overcome it thanks to the team's dedication," Neoen Australia's Managing director Louis de Sambucy said in a statement.
French firm Neoen SA activated Australia's biggest battery on Wednesday in time for the southern hemisphere summer, after fire damaged two of Tesla Inc's "Megapack" units at the project during testing in July. The 300 megawatt (MW) energy storage project, dubbed the Victorian Big Battery, is one of the world's largest. Able to supply 450 megawatt hours (MWh) of power, it is seen as crucial to preventing blackouts, especially during heatwaves, in a market increasingly reliant on solar and wind power.