Akaysha Secures $163M Debt for Aussie Battery Storage

• BlackRock-backed Akaysha Energy secures AUD 250 million for two battery projects in Queensland, boosting energy storage capacity with Powin and Tesla technology.

Australian battery energy developer Akaysha Energy Pty Ltd, backed by BlackRock Inc, has secured AUD 250 million in debt financing for the construction of two battery energy storage systems in Queensland. The funds will support the 155-MW/298-MWh Ulinda Park project and the 205-MW/410-MWh Brendale project, both serving the National Electricity Market.

Ulinda Park will utilize Powin Battery technology, while Brendale will be equipped with Tesla Megapack. The debt raise was arranged by a group of seven lenders, including CBA, DBS, ING, Mizuho, MUFG, Rabobank, and SMBC, with a tenor of three years and over AUD 100 million in letters of credit to support security obligations. The projects are set to enhance energy storage capacity in Australia.

What is the total capacity of the two battery energy storage systems in Queensland?

• The total capacity of the two battery energy storage systems in Queensland is 360 MW/708 MWh
• Ulinda Park has a capacity of 155 MW/298 MWh
• Brendale has a capacity of 205 MW/410 MWh
• Ulinda Park will utilize Powin Battery technology
• Brendale will be equipped with Tesla Megapack