German investor Aquila to get 440 MWh of BESS projects in Australia

• German financial investment supervisor Aquila Capital has struck a deal to get a 220-MW/440-MWh pipe of battery energy storage projects in Australia from Spain's Gransolar Group.

The portfolio contains three projects at numerous stages of advancement, Aquila Capital claimed on Monday.

The bargain is Aquila Capital's first investment in the energy storage space market in Australia where the German capitalist sees immense opportunities.

"We are enjoyed shut our initial acquisition in Australia, a key market for us. Energy storage space systems are vital for system stability and efficiency as well as will be essential to know the complete possibility of renewables in Australia. We eagerly anticipate expanding our existence and also spending long-term in decarbonising the nation's economic situation," stated Aquila Capital Asia Pacific's president Alexander Lenz.

In addition to energy storage, Aquila Capital is looking for to make financial investments in solar as well as wind projects in Australia in a drive to broaden its clean energy portfolio throughout Asia-Pacific.

The purchase comes on the heels of a EUR-1-billion (USD 1.005 bn) built-to-sell building and construction facility that the Hamburg-based investment supervisor safeguarded last week to finance its 2.6-GW renewable resource pipe in Spain and Portugal.

In a separate declaration, E22, Gransolar's energy storage subsidiary, claimed that Australia is a key market for the company and also it intends to develop 2 GWh by the end of the year.