Akaysha Energy secures A$1.75 billion for Australian battery projects

Australian battery energy storage developer Akaysha Energy has secured A$1.75 billion (approximately $1.2 billion) in portfolio-level financing. The facility refinances existing debt for four battery energy storage projects: Brendale, Orana, Ulinda Park, and Elaine.

While the Ulinda Park, Brendale, and Orana projects are currently operational, construction on the Elaine project in Victoria began in October 2025, with completion expected in the second half of 2027. The financing structure includes three facilities with tenors of five, seven, and 10 years, alongside revolving liquidity and contingent instrument facilities to support Akaysha’s 6 GW/25 GWh development pipeline within Australia’s National Electricity Market.

A consortium of 11 banks provided the financing, including ANZ, BNP Paribas, Bank of China, CIBC, Commonwealth Bank of Australia, Deutsche Bank, DNB, ING, Mizuho, MUFG, and Rabobank.