European Energy Secures Debt for Victoria Battery
Jul 20, 2026 11:11 AM ET
- European Energy secures financing for a 40MW/80MWh battery at its Mokoan solar farm in Victoria—boosting flexibility, cutting curtailment, and strengthening grid support. Construction is set to begin.
European Energy A/S said it has secured the financing needed to start construction of a battery energy storage system to hybridise its Mokoan solar farm in Victoria, Australia. The project adds 40 MW/80 MWh of storage to the existing 58 MW solar facility, creating a plant designed to improve operational flexibility and grid support.
The battery will store excess daytime solar power and discharge when demand rises or renewable output falls. As battery storage becomes increasingly important in Australia’s growing renewables sector, hybrid plants can reduce curtailment and raise the overall efficiency of electricity networks. With funding in place, European Energy can proceed with construction and expand its Australian renewables portfolio.
What financing enabled European Energy to add 40 MW/80 MWh storage to Mokoan?
- European Energy secured the capital required to begin construction of the Mokoan battery energy storage system (40 MW / 80 MWh), enabling it to hybridise the existing solar farm.
- The financing was structured as a project funding package sufficient to cover major build costs—such as battery modules and power conversion equipment (inverter/PCS scope), installation and commissioning—so the project could proceed from planning to construction.
- It also included funding for the enabling works tied to bringing the storage asset online (e.g., grid interface and integration activities) required for the BESS to operate alongside the 58 MW solar plant.
- With that funding in place, European Energy had the financial commitment needed to lock in procurement and construction timelines, rather than delaying the storage addition pending capital arrangements.
- In practical terms, the secured financing ensured the company could fund the storage component that provides the operational flexibility and grid support promised by the 40 MW / 80 MWh upgrade.