Danish energy giant expands presence in Australian solar and battery sector
Copenhagen Infrastructure Partners (CIP) has made a significant move into the Australian solar and battery storage sector by acquiring a majority stake in UK-based Elgin Energy. The deal, announced on Thursday, marks CIP’s expansion into Australia alongside Elgin Energy, which boasts 2GW of solar and storage projects ready for development, as well as a substantial pipeline of 15GW across the UK, Ireland, and Australia.
Elgin Energy has unveiled several large-scale solar and battery storage projects in Australia, including the recently approved Glanmire project in New South Wales and the Shady Creek project in Victoria. These projects feature 60 MW of solar capacity paired with 60 MW, two-hour battery storage systems.
With a focus on greenfield renewable energy investments, CIP positions itself as the world’s largest dedicated fund manager in this sector, having raised over €28 billion. The company already has a significant presence in Australia through its investment in the 2.2 GW Star of the South wind project in Victoria.
Last year, CIP made its initial foray into battery storage in Australia by selecting Canadian Solar’s e-storage division and its Solbank technology to construct a 240 MW, two-hour (480MWh) battery at Summerfield in South Australia – set to be the largest in the state.
CIP’s ambitions in Australia include exploring up to 2GW of battery storage, primarily focusing on two-hour storage solutions. The company has identified two projects in each of the state grids within the National Electricity Market.
The acquisition of a majority stake in Elgin Energy aligns with CIP’s strategic goals in the Australian market.
Furthermore, CIP is progressing with the extensive Murchison green hydrogen project in Western Australia, which combines approximately 6GW of wind and solar capacity with 3GW of electrolyser capacity. This setup enables the conversion of electricity into hydrogen gas for transportation and export.
However, the development plans for the Murchison project, including 550 wind turbines and 10,000 hectares of solar arrays, may face significant local opposition. Reports from the Geraldton Guardian highlight a petition in Kalbarri against the project, garnering nearly 3,000 signatures. Concerns have been raised about the proposed Midwest Offshore wind farm near Kalbarri, which could feature up to 200 turbines. Local residents argue that Kalbarri’s natural beauty and status as a fishing and tourism hub make it unsuitable for heavy industrial projects.
These developments underscore CIP’s expanding presence in the Australian renewable energy landscape, with a focus on solar, battery storage, wind, and green hydrogen projects.
