‘Huge Opportunity’ Attracts German Company to Australian Batteries

Australia’s growing storage sector has attracted investment from a variety of players, including large utilities such as AGL Energy and EnergyAustralia, grid companies such as TransGrid, infrastructure investors and specialist storage developers.

Madrid-based Gransolar is planning a major grid-scale storage expansion in eastern Australia. Australian chief executive Carlos Lopez said in February the company had more than 400MW of storage projects under development, backed by its private backer Trilantic Europe.

The company’s energy storage company, E22, will further develop the South Australian portfolio it sold to Aquila on behalf of the German company.

“In the clean energy mix, battery storage is crucial for the stability and efficiency of the system, which makes it a key element of our investment and development strategy, as well as an essential element to realize the full potential of renewable energy in Australia,” Mr Lenz said.

He said Aquila, which manages nearly 14 billion euros ($20.6 billion) on behalf of institutional investors, aims to open an office in Australia this year and will hire permanent full-time staff to support his ambitions here. The company is actively pursuing other clean energy opportunities in Australia, in solar PV and wind, Lenz added.

The company manages 12.2 GW of wind, solar PV and hydropower capacity, primarily in Europe, and invests in energy efficiency, carbon forestry and data centers. Its Asia-Pacific portfolio is managed from offices in Singapore, Taiwan, Japan and New Zealand.