Gaw Capital Partners, a private equity firm and asset manager with $33.7 billion under management, and BW ESS, a global investor in the energy-storage sector, have launched a 1.6-gigawatt, grid-scale battery platform in Australia, dubbed Valent Energy.
Gaw Capital and BW ESS intend to pool their resources in Valent Energy, commit and arrange more than A$2 billion ($1.3 billion) of capital for BESS projects, and develop and grow the platform’s captive pipeline of development assets.
Valent Energy’s portfolio now consists of eight batteries and one solar PV-farm project. Three of the company’s battery projects, which are located in Victoria and New South Wale, have secured both development and connection approvals and are finalizing contracts to commence construction. These include the 240-megawatt Mornington BESS, 250-megawatt Pine Lodge BESS and 120-megawatt Apsley BESS. The company also has other projects that are expected to secure connection approvals early