BlackRock acquires battery storage developer Akaysha Energy

Akaysha Energy, an Australian company with more than 1 GW of energy storage capacity in its portfolio, has been acquired by US investment giant BlackRock. No financial details of the deal have been disclosed. BlackRock has committed to investing more than $700 million to assist the development of battery storage assets in Australia.  The transaction, which was carried out through the company’s Climate Infrastructure business, is its first investment in battery storage in the Asia-Pacific (APAC) region. Nine battery storage assets are included in Akaysha Energy’s portfolio, including the 150 MW/300 MWh battery project, Ulinda Park, in Brisbane’s west. 

Additionally, the Australian firm has developed the Palmerston Battery Energy Storage System (BESS) in Tasmania. It also intends to set up a large-scale battery with a capacity of 200 MW to 400 MW near Wellington, New South Wales (NSW). According to Akaysha, the NSW battery will be capable of storing energy for up to eight hours. The company now has six other projects in the development stage; the details of these initiatives have not yet been made public. In the long run, Akaysha Energy intends to look into additional possibilities for developing storage projects in other APAC nations, including Japan and Taiwan. The company intends to boost its portfolio with green hydrogen assets.

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