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.
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