Octopus Australia, an energy fund manager and developer, secured A$900 million (~$588 million) in financial closure for its Blind Creek Solar Farm and Battery project, located in Bungendore, New South Wales, Australia. The project consists of 300 MW of solar energy, along with a 243 MW/486 MWh battery.
The project is backed by Octopus Australia funds, which include funding from Hostplus, Rest Super, the Clean Energy Finance Corporation (CEFC), Westpac Private Bank, and infrastructure leader APG.
Developed in close partnership with local landholders, it will operate as a true agri-solar model, specifically designed to enable sheep grazing to continue across the site while enhancing land productivity with solar infrastructure.
Once operational, the project is expected to generate enough electricity to power more than 120,000 homes and deliver emissions reductions equivalent to removing 200,000 cars from the road each year.
To deliver the DC-coupled solar hybrid project, Octopus Australia is maintaining its collaboration with GRS as the EPC contractor and Wärtsilä as the BESS provider.
“Reaching financial close on Blind Creek marks a major milestone for Octopus Australia and our commitment to accelerating the clean energy transition. This achievement demonstrates the strength of our strategy to deliver renewable energy projects that provide long-term value for communities and investors alike.” Octopus Australia Co-Managing Director of Renewables, Sonia Teitel, said.
In April, the company reached financial close on the 80 MW Fulham Solar Project and its co-located 128 MWh battery energy storage system, with a total value exceeding A$300 million (~$180.5 million).
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In November, European Energy, a renewable energy project developer, secured €37.9 million (~$43.89 million) long-term project financing for the development of a hybrid solar and energy storage project in the municipality of Saldus, Latvia.
