Akaysha Energy secures $164.4m debt for Queensland battery project

The loan was provided by seven banks.

Akaysha Energy raised around $164.4m (A$250m) in debt to support the construction of the Queensland-based Ulinda Park and Brendale Battery Energy Storage System with a total capacity of 700 megawatt-hours.

In a statement, Akaysha said the funding was secured from a group of seven banks which include CBA, DBS, ING, Mizuho, MUFG, Rabobank, and SMBC.

ALSO READ: Akaysha Energy and ITOCHU team up for large-scale energy storage in Japan

“This financing unlocks capital to be recycled into the construction and development of Akaysha’s extensive pipeline of BESS projects in Australia and internationally, Andrew Wegman, managing director of Finances & Investments at Akaysha, said.

“This first-of-its-kind BESS portfolio of financing is pivotal to supporting the energy transition and improving grid stability,” he added.

The loan facility has a tenor of three years. It also provides over $65.7m (A$100m) of Letters of Credit to support security obligations.

$1 = A$1.52

Follow the link for more news on

Akaysha Energy

Also Read

Alternergy receives initial tranche from $136m funding for Tanay project

Smart grid funding fell by 33% in in the first nine months of 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit