The100-megawatt, two-hour battery being built near Queanbeyan is supported by a contract with AGL, and debt funding, including from the country’s green bank.
The Australian Capital Territory will host a large, 100-megawatt battery under a commitment given by French developer Neoen, supported by debt funding from the country’s green bank.
Debt funding is being provided by the Clean Energy Finance Corporation and infrastructure debt manager Infradebt, allowing Neoen to announce financial close for the project on Wednesday.The lithium-ion battery, located next to the Queanbeyan substation, is already under construction and is due to come online in the first half of 2023.
Neoen Australia managing director Louis de Sambucy extended thanks to the CEFC and Infradebt for supporting the project, noting it is the third battery investment by the company that is supported by the CEFC. The green bank is providing $35.5 million of project finance for Capital.who has declared storage among critical areas for funding by the green bank
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