ZEN Energy has signed definitive documentation to secure funding from Stonepeak to facilitate the construction of the second-largest energy storage project in South Australia’s electricity network.
Stonepeak, an alternative investment firm specializing in infrastructure and real assets, through its portfolio company Peak Energy, a platform dedicated to the development of renewable assets across Asia Pacific, has announced an investment of up to A$70 million ($46 million) into Australian-owned ZEN Energy’s Templers Battery Energy Storage System.
Templers BESS, located 60 kilometers (37 miles) north of Adelaide, South Australia, is a 111-megawatt/291-megawatt-hour battery energy storage system that, when completed, will be the second-largest system by energy stored in South Australia.
ZEN’s ability to construct the battery has been enabled through the South Australian Government’s commitment to a long-term renewable-energy contract with ZEN.
“Temp