Akaysha Energy establishes landmark A$1.75 billion portfolio financing platform
Akaysha Energy has refinanced its project-level debt into a A$1.75 billion portfolio-level financing facility, supporting the company’s next phase of large-scale BESS development.
The financing was supported by a consortium of eleven banks, including ANZ, BNP Paribas, Bank of China, CIBC, Commonwealth Bank of Australia, Deutsche Bank, DNB, ING, Mizuho, MUFG and Rabobank, reflecting continued lender support for Akaysha’s growing portfolio of large-scale BESS assets and development pipeline.
The facility refinances existing project-level debt across four Australian BESS assets (Brendale, Orana, Ulinda Park and Elaine) into a single portfolio-level financing structure. Elaine, which is located in Victoria, commenced construction in October 2025 and is on track to complete in the second half of 2027.
The financing comprises three facilities across tenors of five, seven and ten years. It also includes revolving liquidity and contingent instrument facilities, designed to provide additional flexibility as Akaysha Energy progresses its ~6GW / 25GWh Australian development pipeline of large-scale BESS projects across Australia’s National Electricity Market (NEM).
Andrew Wegman, Managing Director and Chief Financial & Investment Officer of Akaysha Energy, said:
“This is an important milestone for Akaysha and it was pleasing to see continued strong support from lenders for our operating portfolio, our pipeline and Australia’s energy transition. As well as refinancing our existing operating and construction assets, this portfolio-level facility gives us the flexibility to accelerate our next wave of projects while we continue deploying capital where we see the strongest opportunities across the pipeline. We’re grateful to our fantastic bank group, our advisors and of course the broader Akaysha team, all of whom worked tirelessly to get this done.”
The transaction follows the Waratah Super Battery recently achieving final commercial operations, further demonstrating Akaysha Energy’s capability to deliver and operate complex energy infrastructure at scale.
Akaysha Energy was advised by White & Case as legal counsel, with RBC Capital Markets acting as financial adviser and Chatham as hedge advisor. Allens acted as lenders’ counsel. Aurora, Jacobs, KPMG, Marsh, JPA and Ashurst provided the due diligence reports underpinning the transaction.