Quinbrook closes $451.25m debt financing for Queensland battery storage project

It was provided by five banks.

Quinbrook Infrastructure Partners has closed a US$451.25m (AU$722m) new debt financing for the first two stages of its Supernode battery storage project in Queensland.

In a statement, Quinbrook said the financing was secured from the Bank of America, Commonwealth Bank of Australia, Deutsche Bank, Mizuho Bank and MUFG Bank, Ltd.

Supernode is located adjacent to the central node of the electricity network in Queensland and is one of the largest battery energy storage system (BESS) projects being built  in Australia on an energy capacity basis. Stages 1 and 2 are under long-term offtake agreements with Origin Energy for a combined BESS capacity of 520 megawatts (MW) / 1,856 megawatt-hours (MWh).

Quinbrook is also planning Stage 3 which will have 760 MW / 3096 MWhs, making Supernode one of the largest BESS projects under construction globally.

US$1 = AU$1.60