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BNP Paribas supports Akaysha Energy's Orana Battery Energy Storage System (BESS), financing one of the World's largest batteries

BNP Paribas is making a significant contributing to decarbonisation efforts by providing AUD650 million in debt financing for the BESS project.

With the financing of four Battery Energy Storage Systems in Australia to date, BNP Paribas is involved in the decarbonisation of the Australian grid.

The latest example is their contribution to the AUD650 million debt financing of Akaysha Energy’s Orana Battery Energy Storage System (BESS) project – which will fund the construction of one of the largest four-hour batteries in the world.

The project will provide 1,660MWh of storage capacity to Australia’s National Electricity Market and supports the expansion of solar and wind projects.
 
This financing, the largest standalone BESS financing globally, will provide the capital to commence construction on Orana and contribute to the global shift towards sustainable energy solutions.

Chris Ruffa, Head of Global Capital Markets Australia for BNP Paribas, stated: 

"This represents the fourth BESS project that BNP Paribas has financed in Australia, underscoring the important role we see this technology playing in the energy transition and the Bank's strong commitment to supporting the global economy's journey towards net zero."

Source: BNP Paribas