Australia’s Clean Energy Finance Corporation is set to invest AUD94m ($74m) in what is being billed as the country’s first hybrid renewables-and-energy-storage project to be connected to the grid via a single point.

The project in Queensland is planned to include up to 1 GW of wind turbines and single-axis tracking solar PV panels, as well as 2 MW/4 MWh of battery storage.

Part of Queensland’s AUD170m Kennedy Energy Park, the project is jointly owned by Australian renewables firm Windlab and Japanese wind power developer Eurus Energy.

Construction work is planned to start soon, with the first phase of 60 MW planned to be operational before the end of next year. 

Initial development will include 15 MW of solar PV, 43 MW of wind and 4 MW of lithium ion battery storage from US firm Tesla.

The Kennedy Energy Park is planned to connect to the local grid through an existing 66 kV transmission line which runs adjacent to the project site. Its power is expected to supply communities up to 500 km away. 

The funding win follows last year’s commitment from the Australian Renewable Energy Agency (ARENA), which promised up to AUD18m in grant funding.