Copenhagen Infrastructure Partners (CIP) has begun construction on its 240MW/960MWh Summerfield battery in South Australia.
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Summerfield is strategically located near existing transmission infrastructure, and will play an important role in addressing South Australia’s rapidly growing need for energy storage capacity.
Summerfield has entered into a 10-year offtake agreement with Origin Energy.
The battery will support the South Australian Government’s target of 100% net renewable energy by 2027, shifting excess wind and solar energy generated during the day to supply renewable power during peak demand periods.
“We are pleased to start construction on CIP’s first large-scale energy storage project in Australia, which will be one of the largest in South Australia. CIP has a strong track record of developing, owning and operating renewable projects globally, and CIP is delighted to bring this expertise to Australia,” CIP Australia head Jørn Hammer said.
“This is an important milestone for Summerfield and demonstrates CIP’s industrial approach in identifying a market need and delivering a large-scale project with a robust contractual framework, that creates value for society, the local community while securing attractive risk-adjusted returns to our investors,” CIP partner and head of APAC Thomas Wibe Poulsen said.
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The Summerfield Battery is part of CIP’s CI V flagship fund, which has a target fund size of €12 billion and invests in a range of renewable technologies from wind and solar PV to energy storage across Europe, North America and Asia Pacific.
