Thailand’s Banpu buys into 1.4 GWh Australian battery project

Banpu Energy Australia, a subsidiary of Thai mining company and energy producer Banpu, has signed an agreement with EnergyAustralia to acquire a 50% equity interest in the $700 million (US$ 457 million), four-hour Wooreen battery energy storage system being built in Victoria.

The 350 MW / 1,400 MWh Wooreen Energy Storage System (WESS) is being constructed in the Latrobe Valley, adjacent to EnergyAustralia’s gas-fired Jeeralang power plant.

Banpu will inject $110 million into the project that is supported by a long-term offtake agreement with EnergyAustralia.

Sinon Vongkusolkit, Banpu Chief Executive Officer Sinon Vongkusolkit said the investment marks another significant step in expanding Banpu’s renewables portfolio, through its Energy Symphonics strategy.

“Australia’s energy market is undergoing a rapid transformation of power generation. We believe that BESS will play a critical role in supporting clean energy infrastructure,” he said, adding that its investment would help Banpu achieve its goal of cutting its greenhouse gas emissions by 20% by 2030 and reaching net zero target by 2050.

The Wooreen battery, one of six large-scale projects to receive financial backing through the first round of federal government’s Capacity Investment Scheme (CIS), is expected to come online in the second half of 2027 and when fully operational will be capable of powering up to 230,000 homes for four hours during peak demand. EnergyAustralia will operate the completed WESS under a storage services agreement.

EnergyAustralia Managing Director Mark Collette said Banpu’s involvement in the Wooreen project is an exciting step forward for one of the largest battery storage systems in the country.

“Banpu’s international expertise and track record in large-scale energy projects will be invaluable as we work together to deliver Wooreen,” he said. “This partnership brings together the best of local knowledge and global experience, ensuring we can deliver a world-class project that benefits our region and contributes to Australia’s energy future.”

Stijn Koppers, Chief Executive Officer of Banpu Energy Australia, said the Wooreen project marks a significant milestone in Australia’s journey towards a sustainable energy future.

“This investment strongly reflects Banpu’s commitment to delivering energy that is reliable, affordable, and environmentally responsible,” he said.

Outside its home market of Thailand, Banpu operates in China, Indonesia, Japan, Laos, Mongolia, Vietnam, the United States, and Australia, where it has been operating coal mines for more than two decades.

Its Australian renewables portfolio includes the operational 87 MW Beryl and 46 MW Manildra solar farms in central west New South Wales. It is also developing a 400 MW / 800 MWh battery project near Lithgow, having abandoned plans for a 100 MW solar farm at the site. It is also exploring the possibility of building a 600 MW pumped hydro system using underground coal mining voids at Lake Macquarie on the NSW Central Coast.