By: Isabelle Elizondo On: August 29, 2023 In: Comments: 0

CEFC has made its third large scale battery storage investment, committing $35.5 million in project finance to the 100 MW Capital Battery. The battery will provide critical network support, enabling it to accommodate more clean energy and support the ACT’s ambitions to reach net zero emissions by 2045.

The transaction marks the first time CEFC has introduced a co-lender to a battery project, with specialist infrastructure fund manager Infradebt committing $35.5 million. Neoen, one of the world’s leading producers of renewable energy, has contributed equity and will own and operate the battery.

The battery will help modernize and stabilize the grid, performing multiple roles including firming renewable energy, supporting the transmission network, and providing frequency services. It is under construction in the ACT and on track to be operational in the first half of 2023

Trackback URL: