BlackRock's Akaysha wins bid to develop USD-630m Aussie super battery

Aussie battery energy developer Akaysha Energy, owned by a unit of US investment giant BlackRock Inc (NYSE:BLK), has won a tender to develop, build and operate the AUD-1-billion (USD 631.3m/EUR 639.7m) Waratah Super Battery in New South Wales.

The company said on Tuesday it has emerged as the successful bidder in a tender held by the New South Wales Department of Planning and Environment. While the government announced the scheme’s capacity will be at least 700 MW, Akaysha gives a target capacity of 850 MW/1.7 GWh in its statement.

According to the Australian Financial Review (AFR), some of Akaysha ENergy’s rivals in the auction run by NSWs EnergyCo were Australia’s AGL Energy and Origin Energy, Spanish energy giant Iberdrola and France-based Neoen.

The Waratah Super Battery will be installed at the former Lake Munmorah coal-fired power complex in New South Wales Central Coast region, with its construction slated to begin early in 2023. Commercial operations will be achieved by mid-2025, prior to the planned closure of Origin Energy’s Eraring coal-fired power station.

(AUD 1.0 = USD 1.584/EUR 1.563)

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