Enervest sells 4.8 GWh battery storage project to Octopus Australia
Australian-owned, Victoria-based developer and landowner of large-scale energy storage systems Enervest has sold its 1.2 GW / 4.8 GWh Hanworth battery energy storage system in New South Wales (NSW) to Melbourne-headquartered clean energy developer and fund manager Octopus Australia.
Octopus Australia will progress the Hanworth BESS through planning approvals, grid connection and procurement activities ahead of construction, while Enervest works in partnership with Octopus across planning, environmental, community and stakeholder engagement.
Enervest Chief Executive Officer Ross Warby said the transaction is a critical step for Enervest as the company focusses on its long-term own-and-operate strategy.
“Octopus Australia is well positioned to advance Hanworth at pace and meet growing demand,” Warby said.
“As a landowner and ratepayer, we’ll remain actively involved in the project and the region, and we value the trusted relationships we’ve built over the past 18 months.”
Octopus Australia Chief Executive Officer Sam Reynolds said the company’s continued investment demonstrated confidence in Australia’s energy sector.
“While some investors are stepping back, we’re stepping forward,” Reynolds said.
“Australia still needs new power stations to replace ageing coal plants. The difference is that today we can build them using a mix of solar, wind and batteries instead of smokestacks.”
Hanworth BESS is located near Bannaby in the NSW Southern Highlands and will connect to the 330 kV Transgrid Bannaby Terminal Station that borders the 12 hectare site.
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