Iberdrola has purchased the Tungkillo battery storage project from RES Australia group

Iberdrola has acquired the Tungkillo battery storage project, located in South Australia, from the RES Australia group, which will involve an investment of EUR 275 million (US$321 million). This infrastructure, which will have 270 MW and a storage capacity of 1,080 MWh, has all the key approvals and very advanced connection rights, in addition to the land already secured. Its entry into operation is expected in 2028.

The acquisition of the Tungkillo battery system is fully consistent with the Group's recently presented 2025-28 plan, which foresees total investments of more than €1 billion in Australia, a country with a AAA credit rating, mainly in battery development.