London-headquartered investment firm VH Global Sustainable Energy Opportunities (GSEO) in collaboration with Melbourne-headquartered renewables investor Birdwood Energy has completed the construction and commissioning of two solar and storage hybrid systems.
The two 4.95 MW sites co-located with two DC-coupled, two-hour 4.95 MW battery energy storage systems (BESS) are in the New South Wales (NSW) Riverina region near Coleambally and Narrandera, which are 80 kilometres apart, and 700 kilometres southwest of Sydney.
A third hybrid asset is expected to become operational in Q4 2024 bringing operational assets total to five, with a further two under construction.
Victory Hill Capital Partners Co-Chief Information Officer Richard Lum said the opportunity to enable the energy transition to net zero in Australia is significant.
“These assets will help us achieve our twin objectives of accessing differentiated returns for shareholders via participating in the traded energy market in Australia in a risk adjusted way, as well as facilitating the energy transition in the country,” Lum said.
“We firmly believe Australia will continue to offer our investors a means to gain access to interesting private market sustainable energy opportunities in the medium to longer term.”
GSEO’s commitment across the developments is $114.7 million (USD 74.44 million) and once complete, the total capacity of the projects will be 37 MW / 60 MWh, across seven assets in New South Wales, Queensland and South Australia.
Updated 6 November, 2024.
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