Vena secures $966 million green financing for Australian solar, BESS

Vena Energy, the renewable energy arm of Singapore-based power company Vena Group, said it has raised approximately AUD 1.4 billion in green financing facilities to support the continued operation and construction of more than 600 MW of solar and 1 GWh of BESS capacity across Australia’s NEM.

The facilities are structured across two transactions, combining greenfield project funding with the refinancing of existing facilities. The first transaction supports 294 MWp of operational solar capacity, 320 MWp of solar capacity under construction and 408 MWh of battery energy storage capacity under construction across the Tailem Bend and Wandoan South precincts in South Australia and Queensland, respectively.

The second transaction supports two adjacent 583 MWh battery energy storage systems being built in New South Wales, together with the operational 150 MWh Wandoan South battery energy solar system in Queensland. 

Owen Sela, head of Australia at Vena, said the financial facilities will help the company align long-term capital with high-quality renewable energy and storage infrastructure, supporting funding efficiency and enhancing flexibility for future growth.

“This is a significant milestone for our Australian business and a strong endorsement of the quality of our solar and battery strategy and assets,” he said. “By aligning financing structures with complementary assets, we are able to continue scaling our Australian platform and delivering infrastructure that supports grid stability, reliability and the integration of more renewable energy into the system.” 

The green financing facilities were supported by a group of international and local lenders, including BNP Paribas, Bank of China, DBS Bank, ING Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, OCBC, Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Trust Bank, and Westpac Banking Corp.  

From pv magazine Australia