Octopus Investments Australia has purchased the 500 MW/1 GWh Blackstone big battery project from its initial developer, Firm Power in Queensland, Australia.
The proposed site for the installation is Swanbank, situated approximately 40 km from Brisbane. Currently in its early developmental phases, the project is projected to reach a final investment decision in the latter part of 2025. Octopus Investments Australia secured the battery project using funds from its OASIS fund, a platform established in 2022 specifically for institutional investors.
The battery energy storage systems (BESS) will store excess renewable energy generated during the day and discharge it at night and during periods of high demand. This will help to stabilize the grid and reduce Australia's reliance on fossil fuels.
Country updates
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October 05, 2023
Commercial operation started for 204 MW Solar project in Australia
Eneos and Tokyo-based trading firm Sojitz have jointly opened the 204 MW Edenvale Solar Park in Queensland, Australia.
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October 02, 2023
Funding awarded to develop 55MW Hunter Valley Hydrogen Hub on Kooragang Island
Origin Energy has secured an AUD45 million (USD 28.7 million) commitment from the New South Wales government to advance the development of a commercial-scale green hydrogen manufacturing hub on Koorag...
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September 08, 2023
Grok Ventures takes full stake in Suncable Power link project
Grok Ventures has completed the acquisition of SunCable. The plan involves the export of clean energy from Australia to Singapore using a 4,200-km undersea cable. In the initial phase, a vast solar f...
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September 07, 2023
Tender issued for 600 MW/2.4 GWh of energy storage project in Australia
The Australian Energy Market Operator (AEMO) issued a tender as part of the new national Capacity Investment Scheme (CIS) for 600 MW/2.4 GWh of energy storage in Victoria and South Australia...
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August 28, 2023
Feasibility study completed for green hydrogen energy hub in Australia
BP has announced the completion of its concept development phase study for the H2Kwinana green hydrogen project in Australia.
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