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- Solar energy company 1414 Degrees (14D) will acquire the Aurora Solar Energy Project in South Australia and two solar sites in New South Wales
- The company’s TESS-GRID technology will be trialled at the site to create a large, thermal energy storage plant
- This is set to supply reliable power on demand and reduce energy costs
- Eventually, 1414 will progressively increase the storage capacity to several thousand megawatts per hour
- 1414 Degrees has skyrocketed by 51.5 per cent with shares trading for 25 cents each
1414 Degrees (14D) will acquire SolarReserve Australia II, which owns the Aurora Solar Energy Project in South Australia and two solar sites in New South Wales.
The Aurora Solar Energy Project has development approval from the South Australia Government for a 70 megawatt solar photovoltaic (PV) farm and 150 megawatts of generation from a concentrated solar thermal plant (CST).
The $2 million acquisition will see 1414 Degrees propose to use the site to trial its world-leading TESS-GRID technology.
“We will be using South Australian technology to create a large-scale, thermal energy storage plant near Port Augusta able to supply reliable power on demand to the national grid,” Executive Chairman Dr Kevin Moriarty said.
The company is dedicated to a sustainable future where energy is always available. Its clean energy storage is set to reduce energy costs by increasing renewable generation efficiency and stabilising grid supply.
1414’s TESS (thermal energy storage system) technology stores energy from electricity or gas and supplies both heat and electricity in proportions to suit a customer’s needs.
The company aims to eventually seek further approvals to scale up the storage capacity to several thousand megawatts per hour.
According to 1414 Degrees, its TESS-GRID could also buy and store electricity generated by other renewable farms on the high voltage transmission network in the region.
The site reportedly has several clear advantages for the development of the TESS-GRID solution.
“The unregulated high-voltage transmission line to the OZ Minerals Carrapateena and Prominent Hill mines is being constructed along the boundary of the Aurora Solar Energy Project, and provision has been made for a substation at the existing Aurora site with direct connection to the Davenport substation in Port Augusta,” Kevin said.
According to the Chairman, the company’s technology has received a lot of interest in relation to investments.
“The advanced status of this project is expected to result in early revenues from energy sales. We will avoid high capital requirements by staging the development,” he added.
1414 Degrees has skyrocketed by 51.5 per cent with shares trading for 25 cents each at 11:16 am AEDT.
