New $3 million deal for renewable energy
The University of New South Wales and renewables asset manager Providence Asset Group (PAG) have signed a 10-year, $3 million joint research collaboration to form a new new centre supporting global development of renewables markets.
PAG has made an initial investment of $500,000 to support renewables technology research at UNSW through the UNSW Digital Grid Futures Institute and the ARC Research Hub for Integrated Energy Storage Solutions.
These initiatives are working towards the provision of a reliable and sustainable energy supply, plus energy storage and distribution aimed at ‘future-proofing’ global energy systems.
In addition, PAG will provide up to a further $3 million over the next decade to fund a new, multi-disciplinary, world-class research centre, the New Energy Industry Research Centre (NEIRC).
UNSW’s Professor and head of the Digital Grid Futures Institute said that the new centre will assist in countering a number of challenges faced by the renewables boom, including generation, transmission and regulatory aspects of the industry.
“It will also help us to develop a better understanding of what the renewables industry needs, developments in the sector in terms of technology, financial and risk management, as well knowledge transfer to the outside world. This will be particularly important for the ARC Research Hub, where a key measure of success will be its contribution to the energy storage sector nationally,” Professor Dong said.