Eku Energy has acquired a 300 MW battery energy storage project in New Zealand’s Waikato region, marking its entry into the country. The project will be co-developed with Auckland-headquartered solar company Helios Energy and will connect to Transpower’s Whakamaru substation. The battery’s duration or overall energy storage has not been disclosed.
While Eku has not publicly named the project’s original owner, official environment filings and fast-track consenting documents indicate that Mercury NZ Ltd was the likely developer prior to the acquisition. The relevant fast-track consenting documents list Mercury as both the applicant and landowner for a 300 MW battery project at Whakamaru. The proposed battery was to be installed on Mercury-owned land adjacent to its hydro assets, with a direct connection to the national grid via Transpower infrastructure including a new 33kV underground cable.
Mercury said on its website it received resource consent from Taupō District Council in May 2025, adding that “we think our BESS could consist of up to 180 battery containers,” without further specifying sizing.
Financial terms of the acquisition were not disclosed. Financial details in the official filings were redacted for privacy.
The deal adds to a small pipeline of standalone BESS developments in the Waikato region. Harmony Energy is constructing a 100 MW system due online by mid-2026, while another 100 MW project is in early-stage design. As of June, grid operator Transpower had six connection requests for standalone BESS, 25 for solar-plus-storage projects, and one wind-plus-storage request.
Stuart Hillen, Eku’s Australian lead and director of development, said the New Zealand market shares many of the same characteristics as Australian market, citing “a growing pipeline of renewables, aging energy infrastructure and an increasing need for firming solutions.”
“Batteries will deliver greater energy security to New Zealand as the proportion of renewable energy on the grid grows,” he said.
Eku is jointly owned by Macquarie Asset Management and British Columbia Investment Management Corporation. It targets 9 GWh of storage by 2028. The New Zealand project adds to Eku’s existing portfolio in Australia, the United Kingdom, Italy, and Japan.
The company’s operational projects in Australia include the 150 MW / 150 MWh Hazelwood and 200 MW / 400 MWh Rangebank batteries in Victoria. It is also building the 250 MW / 500 MWh Williamsdale battery in the Australian Capital Territory. Other projects in its pipeline include the 300 MW / 1,200 MWh Tramway Road battery in Victoria and 100 MW / 800 MWh Griffith project in New South Wales.
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