Renewables developer Octopus Australia has acquired Risen Energy’s Coleambally Battery, a 100MW/4-hour standalone battery project located in west of Wagga Wagga in New South Wales.
The Coleambally project has secured both development and grid connection approvals, placing it at an advanced stage of development. Octopus will now lead the project through the final development phase, including procurement and financing.
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Located in the Murrumbidgee region, the Coleambally battery complements Octopus’ Darlington Point Solar Farm. By combining storage with generation, the project will provide the flexibility to shift renewable output into periods of peak demand and strengthen overall grid reliability.
In a state with some of the highest volumes of solar generation, Coleambally will capture energy produced during the day and redistribute it in the evening, helping to meet consumer demand and support New South Wales’ 2GW storage target by 2030.
The acquisition follows Octopus Australia’s billion-dollar partnership with Dutch pension investor APG to accelerate the build-out of renewable energy projects across the country.
Octopus Australia senior investment manager Kian Nam Loke said, “What excites us about Coleambally is not just the project itself, but how it fits into the bigger picture. It’s a major step toward meeting New South Wales’ long-term storage targets and reliably firming renewable energy.
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“It is strategically located in one of the state’s strongest renewable corridors, Coleambally allows us to capture solar generation during the day and shift it to when it’s needed most.
“Investors and customers want certainty, and by building storage alongside generation we can create products that deliver stability in price and supply. That’s what unlocks confidence for households, businesses and investors, and that’s where the long-term value lies.”
