Australia advances clean energy with key solar+storage deals

The Canadian pension fund La Caisse will acquire the Australian renewable project developer Edify Energy for AUD1.1bn (USD725m). As part of the deal, La Caisse, which already holds infrastructure investments in Australia, will provide equity to advance two solar-battery hybrid projects, with a combined capacity of 900 MW and 3.6 GWh. These projects will supply clean energy to offtake partners including mining giant Rio Tinto and the Australian federal government. A third major development by Edify Energy, the Nowingi solar project in Victoria, will pair a 300 MW solar plant with a 2.4 GWh battery and has recently received environmental approval from the federal government. The acquisition remains subject to various change-of-control and regulatory approvals.

Meanwhile, Someva Renewables and AGL Energy have received federal approval to develop a large wind-plus-storage project in the central Riverina region of New South Wales (NSW), Australia. The project will include 1.3 GW of wind power capacity alongside a 500 MW/2 GWh battery energy storage system (BESS) with a 4-hour duration. The project is awaiting a final investment decision (FID), with initial construction planned to begin in late 2026. The first phase of the project would include 831 MW of wind power and a 400 MW/1.6 GWh BESS capacity connected to the Project EnergyConnect transmission network.