Quinbrook Infrastructure Partners said it has secured debt financing of AUD$722 million for its Supernode battery storage project in Queensland. This marks the largest stand alone Battery Energy Storage System (BESS) project financing in Australia to date.
Australia’s Largest BESS Project
The supernode is designed to be in close proximity to the central node of Queensland’s electricity network. Once completed, the project will form one of Australia’s largest BESS projects by capacity. Combined, these will deliver a nameplate capacity of 520 MW / 1856 MWhs. Quinbrook also plans to expand the site with Stage 3. This will bring the total capacity to 760 MW / 3096 MWhs, making it one of the largest BESS projects globally.
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Financial Backing
The financing of the Supernode project comes from a syndicate of prominent banks. Among these are Bank of America, Commonwealth Bank of Australia, Deutsche Bank, Mizuho Bank, and MUFG Bank Ltd. It also emphasizes the strategic partnership with Origin Energy.
Efficient Use of Solar Energy
Supernode’s location at the heart of Queensland’s power system allows it to store surplus solar energy efficiently. The BESS will “time-shift” this stored energy to evening peak periods when solar power is no longer available. This will esnure optimal use of Queensland’s abundant solar resources. This innovation supports both local and national energy needs as part of Australia’s energy transition.
Expert Advisors for the Project
Quinbrook was supported by ICA Partners (finance), Norton Rose Fulbright (legal), and Aurecon (technical) in structuring the financing. The lending partners were advised by Allens (legal), RINA (technical), Lockton Companies Australia (insurance), KPMG (tax), and Aurora Energy Research (market).
Brian Restall, Managing Director and Regional Leader for Quinbrook in Australia, commented, “We are very pleased with the successful close of this financing which reflects the robust qualities of the Supernode project as structured by our team, especially the offtake partnership we have agreed with Origin Energy.”
He expressed gratitude for the strong support Quinbrook received from both existing and new financing partners. He emphasized that they recognize the critical role large-scale storage investments play in supporting Queensland and the wider National Electricity Market as the energy transition accelerates.
The Future of Battery Storage in Australia’s Energy Transition
The closing of this financing represents a significant milestone in Australia’s push toward renewable energy solutions. With the nation transitioning to cleaner sources of energy, projects like Supernode, play a huge role in grid stabilization and supply of reliable power. With investment and strategic partnerships continuing, the renewable energy future for Australia appears bright.