Grok Ventures, a private Australian investment company owned by tech billionaire Mike Cannon-Brookes and his wife Annie, has invested A$200 million ($144 million) for a significant stake in Infradebt, a major financier of renewables and battery storage.
According to RenewEconomy, Infradebt will invest in renewables, storage and other decarbonization activities, with the majority going toward renewable-energy projects and battery storage.
The first investment under this new venture is a $35 million debt package for the Bouldercombe battery in Queensland, which is being built by Genex. The 50-megawatt battery is scheduled to begin construction soon and will be operating next year.
Cannon-Brookes has an existing relationship with Infradebt, having been a co-investor in its first ethical fund (IEF) — Australia’s first ethically screened infrastructure debt fund — alongside Future Super.