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From pv magazine Australia
BlackRock has revealed plans to commit more than AUD 1 billion ($703 million) to support the build-out of more than 1 GW of battery storage assets. The acquisition is the first battery storage investment made by BlackRock’s Climate Infrastructure business in the Asia-Pacific region.
Akaysha Energy’s portfolio includes the 150 MW/300 MWh Ulinda Park battery project in west of Brisbane, Queensland. It is also the developer behind the Palmerston Battery Energy Storage System (BESS) in Tasmania, which will use grid-forming inverter technology to offer virtual synchronous machine services to the island’s network.
Akaysha Energy also plans to deploy a large-scale battery near Wellington, New South Wales. The battery will have a capacity of between 200 MW to 400 MW and provide up to eight hours (1,600 MWh) of energy storage.
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Akaysha Energy’s six other projects under development have not yet been made public. Its longer-term plans include developing storage projects in other Asia-Pacific markets, with a near-term focus on Japan and Taiwan. It also plans to add green hydrogen assets to its portfolio.
BlackRock’s co-head of climate infrastructure for the Asia Pacific region, Charlie Reid, said the rollout of storage assets will be particularly critical as coal-fired power stations continue to retire earlier than expected.
“For our clients, we see tremendous long-term growth potential in the development of advanced battery storage assets across Australia and in other Asia-Pacific markets and look forward to working with Akaysha to ensure an orderly transition to a cleaner and secure energy future,” said Reid.
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Source: pv magazine
