Australia: Lightsource bp reaches major milestone on solar and battery projects to deliver firmed renewable energy solutions 

Lightsource bp, a global leader in the development and management of renewable energy projects, today announced it is commencing construction on its Goulburn River hybrid project and its Woolooga Battery Energy Storage System (BESS). These two projects mark an important milestone for Lightsource bp, showcasing exceptionally well-designed renewable energy solutions that combine solar power with battery storage to deliver reliable and efficient projects.

The 585MWdc Goulburn River solar farm, located near Merriwa, New South Wales, will be one of the largest approved single solar farms in the state to reach this stage to date. It will produce approximately 1.3TWh of renewable energy annually, powering the equivalent of 225,000 homes, and is expected to save 910,000 tonnes of carbon emissions each year. Notably, it was recently announced as a successful project under the Australian Government’s Capacity Investment Scheme (CIS), which aims to accelerate investment in renewable energy generation and storage to ensure a reliable and affordable energy transition.

In late 2023, Lightsource bp was awarded a Long-Term Energy Service Agreement (LTESA) after a competitive tender process with the NSW government to provide long-duration energy storage services. As part of this, a long-duration battery will be installed at a later stage to enable hybridisation. The project is expected to be operational by the end of 2026.

The Woolooga BESS, located near Gympie, Queensland, and co-located with the Woolooga solar farm, will consist of 128 battery units, capable of storing up to 640MWh of energy with an export capacity of 222MW. It will store excess energy generated during off-peak times and release it during peak demand, providing flexible power and grid stabilising services to support renewables and improve energy reliability. The project is expected to be operational by mid-2026.

Adam Pegg, Chief Operating Officer for APAC at Lightsource bp, said: “Australia is perfectly positioned to deliver on its energy transition, with abundant renewable resources that not only meet domestic needs but also offer significant potential for energy exports. While there’s ongoing debate about the role of nuclear, the reality is that we have solutions today for firmed renewables – wind and solar backed by batteries – which are already proving to be the most cost-effective* and reliable** energy solution.

“These projects set a new benchmark for how we approach all future developments, demonstrating how market-driven innovation can deliver cost-effective solutions that meet growing energy demands. By embracing firmed renewables, we can build a modern energy grid that is cleaner, more resilient, and capable of powering the nation’s growth, driving both economic progress and sustainable development in a rapidly changing world,” Adam Pegg added.

This milestone caps a significant year for Lightsource bp as it continues progressing and delivering projects across the APAC region. Alongside these two Australian projects, construction has commenced on its first solar projects in Taiwan and New Zealand. Together, these projects will add 1.1GW of renewable capacity.

Since its entry into the country in 2018, Lightsource bp has developed and financed more than 1.2GW and continues to progress its solar and battery storage portfolio of more than 7.5GW across Australia and New Zealand, and is exploring other investment opportunities in the sector, including wind, battery storage, and integration with green hydrogen production. Lightsource bp considers battery storage as a highly complementary enabler of low-cost dispatchable solar and wind generation.

*CSIRO’s GenCost 2023-24 report confirms that firmed renewables, such as wind and solar with storage, are the most cost-effective energy solutions for Australia (published on 16 October 2024).

**AEMO’s 2024 Integrated System Plan (ISP) confirms that firmed renewable energy, backed by storage and gas, is the most cost-effective and reliable solution for powering Australian homes and businesses as the country transitions to net zero.