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Interview – ABC Radio with Eddie Williams
Guest: Tim Buckley, Director of Climate Energy Finance
Snowy Hydro, one of Australia’s longest-running renewable energy projects, has signed its first major battery storage deal with Akaysha Energy to build the Elaine Battery in Victoria. The battery will provide short-duration storage to complement Snowy’s long-duration pumped hydro, helping to balance supply when solar and wind energy are unavailable.
Tim Buckley of Climate Energy Finance says this marks a turning point, with battery technology disrupting Australia’s fossil-fuel-heavy energy market. Backed by global investor BlackRock, Akaysha plans to develop five battery sites. He argues that large-scale batteries are timely, cost-effective, and essential for decarbonisation – particularly in the face of political inaction and the failures of past mega-projects like Snowy 2.0.