Vena Energy Wins Asia Pacific Energy Storage Deal of the Year Award at the Annual IJGlobal Awards 2020
Vena Energy, Asia-Pacific’s leading renewable energy company, announced today it was awarded the “Asia Pacific Energy Storage Deal of the Year” award for its 100 MW Wandoan South Battery Energy Storage System (BESS) in Queensland, Australia at the annual IJGlobal Awards 2020.
In December 2020, the Wandoan South BESS completed Australia’s first-ever non-recourse project financing of a utility-scale BESS project, with Vena Energy’s partner banks BNP Paribas, DBS and ING providing AUD 110 million (USD 84.26 million) of debt and ancillary facilities that meet the criteria of ‘Green Loan’ as aligned with the Green Loan Principles issued by industry associations APLMA and LSTA.
Currently in the final stages of construction, the 100 MW Wandoan South BESS is the largest grid-scale battery in Queensland and can store up to 150 MWh of renewable energy, which could supply up to 57,000 Australian homes annually. It will enable the off-taker to potentially time-shift intermittent renewable energy from periods of excess renewable energy supply to periods of high consumer demand. In addition, the plant will also have the capability to provide a range of ancillary grid services, which will be increasingly important as more renewables connect to the grid. The Wandoan South BESS is scheduled to achieve commercial operation in the fourth quarter of 2021.