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AGL Energy purchases South Australia's Virtual Power Plant (VPP) from Tesla

AGL Energy announced on Friday that it has acquired South Australia's Virtual Power Plant from Tesla. The Australian power retailer is looking to increase its battery storage to help drive the green energy transition.

AGL is aiming to achieve zero net carbon emissions in 2035 by implementing grid-scale storage projects of 1.4 gigawatts.

AGL will be able to access residential solar and battery system networks consisting of approximately 7,000 Powerwall batteries. More are expected to be installed in this year.

SAVPP is an extensive network of Powerwall and solar home battery systems installed in South Australian community and social housing. AGL will now own the SAVPP.

In a press release, the company said that customers would receive significant discounts on energy and it will explore ways to extend the program to other users.

Jo Egan, AGL's Chief Customer Officer, said: "We understand that the upfront costs for installing solar panels and batteries are a barrier to many people. We are working on ways to make them more affordable."

The company stated that the solar and battery assets will be coordinated so as to work together and used to stabilise electricity grids where necessary.

The company has not disclosed the value of this deal. Tesla, the electric vehicle manufacturer, did not respond immediately to a question about the deal's value.

(source: Reuters)