Palisade Investment Partners will acquire a 100% interest in the Summerfield Battery Energy Storage System (BESS) from Copenhagen Infrastructure Partners (CIP) through Intera Renewables.
The Summerfield BESS is a 240MWac/960MWh BESS located approximately 50km east of Adelaide in South Australia. The project was developed by CIP with construction commencing in February 2025. Palisade is acquiring the project partway through the construction phase.
Related article: CIP begins construction on 960MWh Summerfield Battery
The BESS has a long-term tolling agreement in place with Origin Energy and commercial operations are scheduled to commence in late 2026.
Palisade partner Simon Parbery said, “We are excited to be working with Copenhagen Infrastructure Partners in delivering this significant project for our investors, and Australia’s broader clean energy transition goals.
“Summerfield represents Palisade’s second investment in large-scale energy storage, providing both attractive risk-adjusted returns to investors, and long-term strategic value to our Australian renewables platform Intera Renewables.”
Palisade is an early investor in the clean energy sector and manages and operates a diverse portfolio of renewable energy assets in Australia and the United States.
With the inclusion of Summerfield, Palisade’s renewable energy portfolio totals approximately 2.5GW of capacity on a 100% ownership basis, including 2.2GW in Australia, making Palisade one of Australia’s largest renewable energy investors.
Blue Power Partners will be retained to manage the construction of the project through to commercial operations, following which Palisade’s operational management services arm, Palisade Integrated Management Services (PIMS), will carry out asset management activities.
CIP partner and APAC lead Thomas Wibe Poulsen said, “We are delighted to have reached an agreement to sell Summerfield to Palisade. CIP has successfully de-risked this large-scale battery project throughout development and construction, demonstrating our ability to manage risk and deliver value to our investors.
“The Summerfield project clearly illustrates CIP’s capability to deliver through each stage of a project’s lifecycle, having successfully delivered all key development workstreams and with construction now substantially complete. CIP is actively developing other large-scale projects in South Australia and across Australia more broadly, and we look forward to progressing our diverse investment portfolio in this important market.”
Related article: Iberdrola Australia acquires 242MW Ararat Wind Farm
Intera is Palisade’s Australian renewable energy platform and is the principal investment of Palisade’s Renewable Energy Fund (PREF), which has a 50% ownership interest in the platform alongside Palisade’s Diversified Infrastructure Fund (PDIF), the Clean Energy Finance Corporation (CEFC), Aware Super, and HESTA.
