Octopus Australia has acquired the Coleambally Battery, a standalone project with a capacity of 100 MW and up to 4 hours of storage, located in southern New South Wales, west of Wagga Wagga.
The Coleambally project has received both Development and grid connection approvals, positioning it at an advanced stage of development. Following its acquisition from Risen Energy, Octopus will now oversee the project through its final development phase, which includes procurement and financing.
Situated in the Murrumbidgee region, the Coleambally battery complements Octopus’ Darlington Point Solar Farm. By integrating storage with generation, this project will enhance the ability to shift renewable energy output to periods of peak demand, thereby improving overall grid reliability. In a state known for high solar generation, Coleambally will harness energy produced during the day and redistribute it in the evening, aiding in meeting consumer demand and supporting New South Wales’ target of 2 GW of storage by 2030.
Projects like Coleambally enable the packaging of renewable energy into firmed capacity, facilitating long-term power purchase agreements that ensure price and supply stability for investors and customers. This acquisition also follows Octopus Australia’s billion-dollar partnership with Dutch pension investor APG to expedite the development of renewable energy projects across the nation.
Octopus Australia manages all aspects of projects, from securing initial capital to obtaining approvals, procurement, construction, and ultimately delivering energy to Australian homes and businesses. Once operational, the Coleambally battery will operate alongside Octopus’ existing solar projects in New South Wales, providing the flexibility to transfer power between assets, mitigate variability in generation, and ensure a more reliable supply to the grid.
Kian Nam Loke, Senior Investment Manager at Octopus Australia, stated:
“What excites us about Coleambally is not just the project itself, but how it fits into the bigger picture. It’s a major step toward meeting New South Wales’ long-term storage targets and reliably firming renewable energy. Strategically located in one of the state’s strongest renewable corridors, Coleambally enables us to capture solar generation during the day and shift it to when it’s needed most.“Investors and customers seek certainty, and by developing storage alongside generation, we can create products that provide stability in price and supply. This fosters confidence among households, businesses, and investors, unlocking long-term value.”
Qiao Nan Han, Country Manager at Risen Energy Australia, remarked:
“The successful sale of the Coleambally Battery Energy Storage System (BESS) project is a proud moment for our team and validates our strategy to be a leading, integrated energy solutions provider in Australia.“When we first entered the market, we established a foundation with high-quality solar manufacturing and development. Today, we have successfully expanded our expertise into the critical storage sector, demonstrating our ability to develop and deliver the complex, grid-scale assets that the Australian energy market requires. We are thrilled to partner with Octopus Australia, whose expertise and capital will bring this important project to fruition.”
Source: Octopus
