DNV provides technical due diligence for Australian bus electrification project
- October 26, 2021
DNV, the independent energy expert and assurance provider, is participating in one of Australia’s leading end-to-end bus depot electrification projects.
The A$40-million initiative in New South Wales (NSW) is being developed by a joint venture between leading UK-based battery storage operator Zenobē and Transgrid, the operator of the NSW high-voltage electricity grid.
On one of NSW’s major electric bus pilots, the project forms part of the State government’s plan to transition its 8,000 strong bus fleet to zero-emission vehicles by 2030.
“The project demonstrates the multiple functions that a battery energy storage system (BESS) can perform: storing solar energy, charging electric buses and helping support a more stable grid. It also highlights what our future power system can look like, and the central role that a smart grid combined with EVs and renewable generation can play in Australia’s low-carbon energy future,” according to Brice le Gallo, Regional Director for Energy Systems Asia Pacific at DNV.
Zenobē Co-Founder and Director Steven Meersman said they selected DNV as the independent risk and assurance expert, to deliver the innovative outcomes with security and confidence.
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Project details
Zenobē and Transgrid’s project will involve the supply of 40 electric buses and the transformation of Sydney’s Leichhardt Bus Depot, which is operated by Transit Systems, into a next-generation electric charging terminal. The venture will also install an integrated solar photovoltaic generation and BESS to supply power to the depot and to provide support services to the grid.
The Australian Renewable Energy Agency (ARENA) has awarded an AUD$5-million grant to the initiative, with additional funding secured from the Clean Energy Finance Corporation (CEFC).
Scope of due diligence
As part of the lending requirements, Zenobē sought due diligence expertise from DNV on the main technical aspects of the project. This advice, which was critical to securing project funding, included high-level appraisal, risk and mitigation analysis undertaken by DNV on the:
- Selected equipment for the project, including the accessibility of spare parts (bus battery replacements, timing, cost and service impacts)
- Supplier suitability, reliability and compatibility with the bus operating schedule (route, distance/kilometres and kWh)
- Solar power flows, BESS charging/discharging and power grid imports and exports
DNV also advised the JV on the project’s commercial operation and contracts, the grid connection process (including the need for it to be capable of meeting the complex requirements of the bus depot’s charging infrastructure) and technical assumptions associated with the project’s financial modelling.
