Inpex invests in Australian solar, battery project

Japanese upstream firm Inpex has decided to invest in a hybrid solar and battery project in the Australian state of New South Wales, aiming to boost its renewable energy business abroad.

Inpex reached a final investment decision on the Quorn Park Hybrid project in Australia, a joint venture project with Italian utility Enel's wholly-owned Australian renewable energy firm Enel Green Power Australia (EGPA), the Japanese firm announced on 14 June.

The project consists of solar farm construction and power generation with a photovoltaic and battery system. Batteries are usually a necessary back-up power source to stabilisepower grids that utilise renewable energy.

The project aims to produce around 210GWh/yr from solar power with around 40MWh/yr from battery storage, according to EGPA, with an operational capacity of around 98MW for solar and 20MW for battery.

The firms plan to start construction during the second half of 2024, before it starts commercial operations during the first half of 2026, according to an Inpex representative that spoke to Argus.

The Japanese firm did not disclose the investment amount but the investment value for construction of the project is estimated at "over $190mn", according to EGPA's website.

Inpex bought a 50pc stake in EGPA in July 2023, with an aim of expanding its renewable generation portfolio. The firm regards Australia as a "core area" for boosting its renewable energy business, according to Inpex.

By Yusuke Maekawa