AVL news, page-1519

“Project Lumina remains on track for detailed design by Q3 CY2025, aligning with the accelerating demand for long-duration energy storage. We are pleased that additional work highlights improvement to LCOS underscoring the competitiveness of Project Lumina’s architecture to compete in the long duration energy storage market.

“Importantly, these LCOS estimations continue to be underpinned by an assumed US$10/lb V2O5 vanadium price. This indicates that vanadium pricing supportive of incentivising new upstream vanadium oxide supply does not inhibit competitiveness of VFB BESS in long duration energy storage applications.

“The advanced design status and competitiveness of our Project Lumina VFB BESS architecture positions us well to pursue a growing pipeline of long duration opportunities such as the 500MWh VFB BESS proposed for Kalgoorlie in WA and several even larger project opportunities emerging on the east coast of Australia where market duration price signals are moving to eight hours and beyond.”

Design and engineering progress

Project Lumina’s design incorporates modular 15 megawatt (MW) arrays capable of scaling to larger capacities, such as a 90 MW BESS made up of six arrays. Each system includes a power unit, electrolyte storage, vanadium electrolyte, power conversion, distribution, and cooling systems, alongside site administration infrastructure.

Key benefits of the design include:

• Faster deployment timelines
• Reduced construction and logistics costs
• High local content integration
• Simplified expansion potential through additional electrolyte and tank capacity

Enhanced LCOS and economic modelling

The revised LCOS of A$214/MWh was achieved through detailed engineering studies and a shift toward locally sourced components. The estimate assumes a vanadium pentoxide (V₂O₅) price of US$10 per pound and is calculated using standard industry models aligned with the Australian Energy Regulator.

Notable LCOS assumptions include:

• 90 MW output for 8 hours (720 MWh capacity)
• 78% round-trip efficiency
• 30-year asset life
• Operating cost of A$1.86/kWh