Six utility-scale battery energy storage projects (BESS) reached financial close in the first quarter of 2025 to the tune of $2.4 billion (USD 1.5 billion) signalling a strong start out of the gate for the technology and its second-best investment quarter on record, adding 1.5 GW of storage capacity and 5 GWh of energy output.
Data released in Australian industry body Clean Energy Council’s (CECs) Quarterly Investment Report: Large-scale renewable generation and storage for Q1 2025 cites the largest project was the Woreen BESS in Victoria, with a capacity of 350 MW and 1,400 MWh, while South Australia (SA) led in committed storage capacity with 640 MW and 1,760 MWh.
Image: Clean Energy Council
A further three BESS projects commenced construction in the first quarter of 2025, including Danish renewables giant Copenhagen Infrastructure Partners’ (CIPs) 240 MW / 960 MWh BESS in SA. The three projects total 840 MW storage capacity / 2.9 GWh energy output, while two were commissioned with a value of 56 MW / 98 MWh.
Overall, the strong start for grid-scale energy storage represents an 83% increase over the 12-month average of $1.3 billion for new storage investments.
Clean Energy Council Chief Policy and Impact Officer Arron Wood said high levels of investment in battery storage over the past couple of years maintaining momentum was good to see.
“Energy storage systems, such as big batteries, are a critical part of Australia’s future energy mix and act as a reliable back-up system allowing us to store renewable energy for when it is needed most and keep the lights on under all conditions,” Wood said.
Image: Clean Energy Council
As at the end of 2024, there was over 8.7 GW / 23.3 GWh of large-scale battery capacity under construction in Australia, equivalent to more than a third of energy generated by Australia’s coal-fired power stations combined.
There is also 69 committed storage projects, either standalone or hybrid projects, currently in the pipline, equivalent to 12,532 MW / 32,078 MWh in capacity/energy output.
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