London-based independent energy infrastructure platform Revera Energy has expanded a $213 million (USD 150 million) credit facility to accelerate the development and construction of the company’s pipeline of late-stage battery storage, solar and green hydrogen projects.
Backed by United States-headquartered private equity firm Carlyle Global Infrastructure, the additional finance will support construction of the 150 MW / 300 MWh Bungama Stage 1 battery energy storage system (BESS) in South Australia (SA), which is expected to reach commercial operation date in Q2 2026.
The Bungama BESS is 6 kilometres east of Port Pirie, which is 227 kilometres north of Adelaide.
Revera can also now accelerate development of at least 600 MW / 2,400 MWh of additional battery storage capacity across the National Electricity Market (NEM), with its next 250 MW project expected to hit notice to proceed in Q3 2026.
The majority of the overall pipeline has already secured land, grid, and planning.
It will also allow optimisation of 158 MW of operational solar farms under management in New South Wales (NSW).
Revera Energy Chairman and Carlyle Infrastructure Group Managing Director Richard Hoskins said Australia’s NEM continues to integrate record levels of renewable energy, creating substantial opportunities for battery storage to provide essential grid services.
“This funding enhancement accelerates Revera’s ability to take advantage of increasing demand in Australia and the United Kingdom (UK) for grid-scale storage and renewable generation capacity, supporting its continued progress as a leading player in the sector.”
Revera Energy Chief Finance Officer Andy Hoffman said the facility upsize represents a transformational step in Revera’s growth.
“Our increased financial capacity allows us to accelerate high-value development opportunities and reinforces our commitment to delivering resilient, sustainable energy solutions,” Hoffman said.
The facility will also accelerate Revera’s development in the UK of at least 1 GW / 2 GWh of late stage battery projects.
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