Quinbrook Infrastructure Partners has closed on A$722 million ($450 million) of new debt financing for stages 1 and 2 of its Supernode battery storage project in Queensland Australia.
The financing was provided by a syndicate of banks, including Bank of America, Commonwealth Bank of Australia, Deutsche Bank, Mizuho Bank and MUFG Bank. This represents Australia’s largest standalone battery energy storage system (BESS) project financing to date.
Supernode, strategically located adjacent to the central node of the electricity network in Queensland, is one of the largest BESS projects under construction in Australia on an energy capacity basis, according to Quinbrook. Because of its location, the Supernode BESS will be able to efficiently store surplus solar energy generated at any time of day and “time-shift” the stored solar energy to evening peak periods after the sun has set.
Quinbrook confirmed it has secured long-term offtake agreements with Origin Energ
