Australian-owned ZEN Energy has successfully secured funding from Stonepeak to facilitate the construction of the second largest energy storage project in South Australia’s electricity network.
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Stonepeak, through its portfolio company Peak Energy, a platform dedicated to the development of renewable assets across Asia Pacific, has announced an up to AU$70 million investment into ZEN Energy’s Templers Battery Energy Storage System.
Templers BESS, located 60km north of Adelaide in South Australia, is a 111MW/291MWh battery energy storage system that, when completed, will be the second largest system by energy stored in South Australia.
ZEN Energy CEO Anthony Garnaut said, “Templers BESS is a key milestone in ZEN’s significant growth and marks our first substantial asset, in the state where we started.
“The South Australian Government, through committing to a long-term contract with a renewable retailer has enabled this significant investment in further stabilising the supply of renewable, affordable energy into South Australia.
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“Stonepeak and Peak Energy’s commitment to ZEN will enable us to continue to bring more renewable assets to the grid in South Australia.”
