Octopus Australia, a renewable energy project developer and fund manager, acquired two new development projects in Australia, including the Hanworth battery energy storage system in New South Wales and the Dunmore solar and battery project in Queensland.
Once fully operational, the 1.2 GW/4.8 GWh Hanworth project, located near Bannaby, west of Bowral, will be capable of storing and delivering enough electricity to power over half a million households during the evening peak. Dunmore, on the other hand, includes a 300 MW solar photovoltaic with a 150 MW/300 MWh battery system.
The company acquired the Hanworth project from the Australian energy developer Enervest, connecting into Transgrid’s Bannaby Terminal Station. Whereas the Dunmore project, located near Toowoomba, was acquired from Samsung C&T Renewable Energy Australia.
Enervest CEO Ross Warby said the sale of the Hanworth Battery Project marked an important milestone for the project. “This transaction with Octopus Australia represents a landmark outcome for Enervest, reflecting both the strength of our development portfolio and the significant investment and work completed to date. Partnering with a reputable, long-term partner like Octopus enables us to realise value from Hanworth while sharpening our focus on Enervest’s own-and-operate strategy. We believe Octopus is well-placed to accelerate this asset to meet growing demand, and we look forward to seeing the benefits it will bring to the local community, the grid, and the broader energy transition.”
Previously, in 2025, Octopus Australia reached financial closure on its projects, including the 300 MW Blind Creek solar with a co-located 243 MW/486 MWh battery project, securing A$900 million (~$588 million) financing, and raising over AUD 300 million (~$180.5 million) for its 80 MW Fulham solar with a co-located 128 MWh battery storage project.
According to Mercom’s Annual and Q4 2025 Funding and M&A Report for Energy Storage report, there were 65 energy storage project M&A transactions in 2025 compared to 38 transactions in the same period of 2024.
