Octopus Investments Australia has acquired a 500-megawatt/1-gigawatt-hour battery project from its developer, Firm Power. Once it is built out, the battery project, dubbed Blackstone, will be the largest such project in Queensland, with the ability to power 70,000 homes for 24 hours, according to various news sources.
The Blackstone battery is expected to be bigger than the 300-megawatt/450-megawatt-hour Victorian Big Battery, which is currently Australia’s largest connected battery storage project.
Blackstone is in the beginning development stages and is expected to reach a final investment decision in the second half of 2025.
Octopus Investments Australia has acquired the project via its OASIS fund, an open-ended wholesale Australian unit trust focused on providing investors with exposure to a diversified portfolio of clean-energy infrastructure assets in Australia. OASIS invests in development, construction and operational renewable-energy projects. Accordi