Posted:
March 3, 2021
The long untapped potential of Cranbrook’s rail-side industrial lands can be considered tapped.
Initial subdivision and development plans through Peak Industries are in the works for the industrial lands off Theatre Road in Cranbrook, which are already showing plenty of potential for investment and business growth opportunities.
The finger joint plant has been revamped and is now producing finger joint studs for shipment to the U.S., with 23 full time workers and a second shift of 15 more workers set to begin shortly. The market for these materials is strong and the company can sell as much as they are able to produce.
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A first of its kind 28-megawatt Battery Energy Storage System (BESS), set to be installed in Newcastle, has been earmarked to help the Hunter transition into a renewable energy zone.
A development application for the battery has been lodged with Newcastle City Council, proposing it be built on approximately 1.5 acres inside the Steel River Estate.
If approved, the battery will be the first utility-scale BESS to be constructed in the Hunter and the first in Australia within an existing industrial precinct.
The project is the result of a joint venture partnership between two Australian companies â Precinct Capital and Edify.
Precinct Capital Chairman Bruce Baudinet says the battery facility will be designed to charge and discharge directly from the grid, responding to electricity market signals and disturbances to ensure stability of the grid as renewable energy penetration increases in coming years.