Financial close achieved for 100 MW/150 MWh battery storage project in Australia
Vena Energy Australia has announced the Financial close for the 128.5 MW Tailem Bend 2 Hybrid Project located in Queensland, Australia.
The project comprises an 87 MW solar farm and 41.5 MW of Battery Energy Storage System (BESS). Once complete the hybrid project will have the capacity to generate enough energy to power approximately 35,000 homes with clean energy annually, reducing more than 207,000 tons of CO2 Greenhouse Gas Emissions or the equivalent of planting more than 3.4 million trees.
During the financial close the hybrid project is supported by DBS as the Joint-Green Structuring Bank, Technical Coordinator, Facility Agent and Project Account Bank, ING as the Joint-Green Structuring Bank and Financial Model Coordinator, and Siemens Financial Services through Siemens Bank.
UGL Limited will be responsible for the engineering, procurement, and construction of the solar project while Doosan GridTech act as the head contractor for the BESS. Construction of the solar project commenced in April 2022, and the BESS project will commence later in the year.
