Eku Energy Achieves Financial Close for Williamsdale Battery Storage Project

Eku Energy has reached Financial Close for the Williamsdale Battery Energy Storage System (BESS). It is a project that will enhance energy security in Canberra.

The 250 MW / 500 MWh facility will be powered by Tesla Megapacks, supporting the Australian Capital Territory (ACT) Government’s efforts to integrate more renewable energy into the grid.

Project Overview

The Williamsdale BESS is located in the Australian Capital Territory. It will store enough energy to power one-third of Canberra for up to two hours during peak demand.

Connected to the Evoenergy distribution network, it will help stabilise the grid during high energy consumption periods. This project is crucial for meeting Canberra’s energy needs and supporting its transition to a cleaner, more sustainable energy future.

Construction and Operations

Construction of the Williamsdale BESS will be led by Consolidated Power Projects (CPP). Tesla Energy will supply the Megapack storage system. By 2026, the facility is expected to become operational.

It will create new job opportunities and provide essential grid services, such as fast-acting frequency control and system strength.

Strategic Partnerships and Financing

Eku Energy has formed a partnership with the ACT Government under an innovative revenue swap arrangement. Through this arrangement, the ACT Government will receive a share of the revenue from the BESS’s participation in the National Electricity Market (NEM). In exchange, Eku Energy will receive fixed quarterly payments over 15 years. The deal has helped secure competitive financing from Westpac, Sumitomo Mitsui Banking Corporation (SMBC), and MUFG Bank.

Supporting Canberra’s Clean Energy Future

The Williamsdale BESS is a key part of the ACT Government’s target of achieving net-zero emissions by 2045.

Daniel Burrows, Chief Executive Officer at Eku Energy said, “At Eku Energy, we focus on innovation to find bespoke ways of integrating revenue contracts, design, project execution and capital to meet the objectives of our partners to deliver clean energy solutions that are safe, secure and cost-effective."

He added, "The Williamsdale BESS is a critical step forward in supporting the Territory’s clean energy future and we are excited and proud to be one step closer to its delivery.”

Eku Energy continues to expand its global footprint. The company currently operates or is constructing seven assets and has 50 more projects in development across Australia, the UK, Japan, and Italy.