Edify reaches financial close on twin solar and battery projects

Edify Energy says it has reached financial close on its neighbouring Smoky Creek and Guthrie’s Gap projects in Queensland, the largest solar and battery hybrid projects under construction in Australia.

May 20, 2026 David Carroll

Image: Edify Energy

Edify Energy announced it has secured financial close for its Smoky Creek and Guthrie’s Gap solar and battery projects in central Queensland, the first of the company’s projects to reach this stage since it was acquired by Canadian pension fund La Caisse in a $1.1 billion (USD 780 million) deal.

The neighbouring Smoky Creek and Guthrie’s Gap power stations, being constructed across an 1,800-hectare site near Biloela in central Queensland, will both feature 300 MW of solar and 300 MW / 1,200 MWh battery energy storage systems. The purpose-designed projects utilise DC-coupled hybrid configurations with grid-forming inverter technologies that Edify said will enhance the stability and resilience of the power network.

Edify Chief Executive Officer Ben Warne said together the projects will strengthen Queensland’s energy system, support industrial demand and contribute to improved reliability as aging thermal generation retires.

“Smoky Creek and Guthrie’s Gap are critical projects in the energy transition, generating cost-effective, reliable and dispatchable renewable energy,” he said, adding that they “are the first projects to reach financial close under La Caisse ownership and reflect the scale of Edify’s and La Caisse’s ambition in making a meaningful contribution to the energy transition.”

Pre-construction works have already commenced on both projects with DT Infrastructure awarded the engineering, procurement and construction (EPC) contracts. Edify is targeting delivery and operations in 2028.

Once operational, the hybrid projects are expected to generate in aggregate close to 2,500 GWh of clean, dispatchable power annually.

Both the Smoky Creek and Guthrie’s Gap projects are supported by long-term underwriting agreements awarded as part of the federal government’s Capacity Investment Scheme and Edify has also locked in 20-year offtake agreements with mining giant Rio Tinto.

Under the offtake deal, Rio will purchase 90% of the power and battery storage capacity generated by the facilities to help power its aluminium smelting and refining operations in nearby Gladstone.

Edify said in addition to delivering clean power for industry and households, the projects are designed to leave a lasting, positive legacy for the region.

It is expected the projects will create up to 800 jobs at peak construction and maximise local procurement with Edify confirming its intent to support local suppliers and the Australian domestic steel industry. The projects are also supported by a community benefits program spanning more than 35 years.

Sydney-headquartered Edify said financial close for the projects was achieved with the support of La Caisse and a syndicate of 14 domestic and international lenders, adding that the debt financing is being delivered under a “market-first greenfield renewable energy portfolio financing package.”

“The financing package reflects strong market confidence in the quality of the projects, La Caisse’s long-term investment thesis in Australia’s clean energy future and Edify’s market-leading track record in development and delivery capability,” the developer said.

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