Ford Motor Co. (NYSE:F) stock is up 0.4% to trade at $13.70 at last check, after the automaker announced it will pivot into hybrids and extended-range EVs in a move that will cost $19.5 billion. The news comes as the company focuses on producing smaller, more affordable vehicles, resulting in the cancellation of its larger F-150 Lightning EV pickup. Additionally, Ford will launch a battery energy storage system business that repurposes existing EV battery plants in Kentucky and Michigan.The stock reached a ...

Project Overview - The Corangji battery energy storage system, a 185 MW/370 MWh system, is located outside Kurang, Victoria [1] - The project is among the first grid-forming battery storage projects aimed at enabling more renewables for the national electricity market [1] Grid Stability and Technology - System strength measures the grid's resilience to changes resulting from disturbances [2] - Grid operators have traditionally relied on system strength from sources like coal and gas turbines [2] - Tesla's Mega Pack uses grid-forming inverters to generate their own voltage signal, operating independently of the network voltage [3] - This technology restores and maintains grid stability, supporting the connection of more renewable energy [4] - The agreement signifies a shift towards using innovative technologies like grid-forming inverters for system strength [4] Renewable Energy Integration - The area has abundant clean energy, especially solar, but transmission network faces operational challenges due to low system strength [1] - Weak grids can struggle to stay stable, hindering the connection of renewable generators [3] - The technology supports the transition to 100% renewable energy [4]