Quinbrook lands new finance for 3 GWh Queensland battery

Quinbrook Infrastructure Partners has closed an AUD 722 million ($450 million) finance deal that will support development of the early stages of a planned 760 MW/3,096 MWh battery energy storage system (BESS) being built in Queensland.
Image: Quinbrook Infrastructure Partners

Australian-owned renewable energy investor and developer Quinbrook Infrastructure Partners has secured AUD 722 million in new debt financing for the first two stages of the Supernode battery energy storage project being built at Brendale, just north of Brisbane.

The BESS – being built as part of an AUD 2.5 billion battery and data center, integrated facility – will comprise three stages. Construction of the first and second stage battery systems has already commenced and will deliver a combined nameplate capacity of 520 MW/1,856 MWh.

Quinbrook is also planning a third stage that it said will raise the battery to a total nameplate capacity of 760 MW/3,096 MWh, making it one of the largest battery energy storage projects under construction in the world.

Australian utility Origin Energy has signed up for all of the capacity of both the first and second stages of the project and Queensland state-owned generation company Stanwell has inked a long-term offtake contract for the third phase.

Quinbrook Managing Director Brian Restall said the offtake agreements had played a key role in delivering the new debt financing package. “We are very pleased with the successful close of this financing which reflects the robust qualities of the Supernode project, especially the offtake partnership we have agreed with Origin Energy,” he said.

The new finance was provided by the Commonwealth Bank of Australia, Bank of America, Deutsche Bank, Mizuho Bank, and Japan’s MUFG Bank.

“We are grateful for the strong support received from both our existing and new financing partners, who recognize the critical role that large-scale [energy] storage investments provide in supporting Queensland and the wider [Australian] National Electricity Market as the energy transition accelerates,” Restall said.

The first stage of the Supernode battery energy storage project is expected to be delivered in 2025.

Quinbrook said, when operational, the Supernode battery will enable the efficient storage of surplus solar energy generated at any time of day and “time shifting” that energy to evening peak grid demand periods.

The Supernode project is being developed on a 30-hectare site adjacent to the South Pine substation, the central node of Queensland’s electricity grid, where more than 80% of all power capacity located in the state transmits to.

From pv magazine Australia.

Written by

  • David is a senior journalist with more than 25 years' experience in the Australian media industry as a writer, designer and editor for print and online publications. Based in Queensland – Australia’s Sunshine State – he joined pv magazine Australia in 2020 to help document the nation’s ongoing shift to solar.

Comments

Your email address will not be published. Required fields are marked *

Cancel reply
Please enter your comment.
Please enter your name.

This website uses cookies to anonymously count visitor numbers. View our privacy policy.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close