Infradebt secures first close on its energy transition fund

Australian specialist fund manager Infradebt has secured the first close of its Infradebt Energy Transition Fund (ETF). ETF is a new fund dedicated to financing grid-scale battery projects in Australia. The fund will provide senior debt finance to 6-8 battery projects with a total capacity of 1.5-2GW over the next few years.

The ETF’s first two investments are loans to the Neon Capital Battery and Genex’s Bouldercombe battery energy storage systems (BESS) project. The Neoen Capital Battery is a 100 MW/200 MWh battery project located on the outskirts of Canberra. Infradebt has provided a senior debt facility alongside the Clean Energy Finance Corporation. The Genex Bouldercombe BESS is a 50 MW/100 MWh project located approximately 20km southwest of Rockhampton in Queensland. Both projects are currently under construction and are expected to begin operations in 2023. Infradebt managed funds are the sole financer for the Bouldercombe BESS.

Initial investors include capital from Grok Ventures, the JANA Diversified Infrastructure Trust as well as a number of existing family office clients of Infradebt. Infradebt thanks these investors for their support of ETF.