Akaysha Energy, an energy storage project developer, secured a A$300 million (~$196 million) corporate debt facility to support the development and construction of its battery energy storage project pipeline in Australia, the U.S., Japan, and Germany.
A syndicate of global and domestic banks comprising BNP Paribas, Deutsche Bank, ING, SMBC, and Westpac provided the financing.
The package includes a three-year multi-currency revolving loan and a letter of credit financing, and provides flexibility to increase the size of the loan over time, as the value of the company’s portfolio of battery storage systems grows.
Andrew Wegman, Chief Financial & Investment Officer of Akaysha Energy, said, “This is a landmark facility for Akaysha and for the Australian renewables sector. As the first borrowing base loan of its kind in the market, it provides the scale and flexibility to accelerate our development pipeline and capitalize on the extensive set of near-term opportunities that we see in Australian and global energy markets.”
In addition, the company announced reaching the commercial operation date on Stage 1 of the 850 MW/1,680 MWh Waratah Super Battery project in Australia.
Last year, in July, Akaysha Energy secured A$650 million (~$440.92 million) in debt financing from a group of eleven domestic and foreign banks. The facility has a three-year tenor and will be used to construct the Orana Battery Energy Storage System (BESS) project located near Wellington, NSW, within the Central West Orana Renewable Energy Zone (REZ), Australia.
In addition, the company announced signing a long-term offtake agreement for its 205 MW/410 MWh Brendale battery energy storage project located in Brisbane, with Gunvor Group in February 2025.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage report, announced Energy Storage project financing increased 168% year-over-year in 2025.
Recently, Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, raised $242 million in project financing for its 150 MW/600 MWh Prospect Power Storage project located in Rockingham County, Virginia.
