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Quinbrook Secures AU$722 Million Debt Financing For Groundbreaking Energy Storage Project

Aerial view of energy storage facility with solar panels.

Global sustainable energy infrastructure investor Quinbrook Infrastructure Partners has successfully secured AU$722 million (approximately US$452 million) in debt financing for the initial stages of its ambitious ‘Supernode’ energy storage project located in Queensland, Australia. This significant funding will support the development of a state-of-the-art energy storage facility designed to enhance the reliability and efficiency of the region’s electricity grid.

Key Takeaways

  • Quinbrook has closed AU$722 million in debt financing for the Supernode project.
  • The project will be developed in three stages, with the first two stages providing 520MW/1,856MWh of energy storage capacity.
  • Major banks involved in the financing include Bank of America, Commonwealth Bank of Australia, and Deutsche Bank.

The Supernode energy storage project is structured in three distinct stages. The first two stages will introduce a combined capacity of 520MW/1,856MWh, while the third stage aims to elevate this capacity to 760MW/3,096MWh. This strategic initiative is expected to play a crucial role in supporting Queensland’s energy transition and enhancing the National Electricity Market (NEM).

Quinbrook announced the successful financing on January 21, 2025, highlighting the robust qualities of the Supernode project. Brian Restall, managing director and regional leader of Australia for Quinbrook, expressed gratitude for the strong support from both existing and new financing partners. He emphasized the critical role that large-scale storage investments play in the energy transition.

Financing Partners

The financing for the Supernode project was provided by several prominent banks, including:

  • Bank of America
  • Commonwealth Bank of Australia
  • Deutsche Bank
  • Mizuho Bank
  • MUFG Bank

This collaboration underscores the confidence in the project’s potential to contribute significantly to the energy landscape in Queensland.

Project Stages and Capacity

The Supernode project is designed to be developed in three stages:

  1. Stage One: 250MW/500MWh of battery energy storage, with Origin Energy contracted as the exclusive off-taker.
  2. Stage Two: Expanding to 520MW/1,856MWh, with a further agreement signed with Origin Energy.
  3. Stage Three: Increasing capacity to 760MW/3,096MWh, with a 15-year off-take agreement sought by Stanwell Corporation for 1,010MWh of storage energy.

Strategic Location and Importance

Located in Brendale, Moreton Bay, the Supernode project is strategically positioned to enhance the Queensland electricity grid. The South Pine switchyard, where the project will connect to the NEM, is a central node through which approximately 80% of Queensland’s traded electricity flows daily.

Integration of Data Centers

A unique aspect of the Supernode project is its integration with low-carbon data center campuses. As the demand for data centers continues to rise due to advancements in artificial intelligence and digitalization, the Supernode project aims to provide a sustainable energy solution to meet this growing need. Data centers are known for their high energy consumption, and the Supernode project will help mitigate the strain on the grid by providing reliable energy storage.

In conclusion, Quinbrook’s AU$722 million debt financing marks a significant milestone in the development of the Supernode energy storage project. This initiative not only aims to bolster Queensland’s energy infrastructure but also sets a precedent for future sustainable energy projects in Australia and beyond.

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