US investment giant BlackRock in $1 billion big battery play in Australia
17 Aug 2022
US investment giant BlackRock is planning to invest at least $1 billion in big battery projects in Australia after agreeing to buy out Melbourne-based Akaysha Energy and its portfolio of at least nine projects in the country’s main grid.
This is the first battery storage investment made by BlackRock’s Climate Infrastructure business in the Asia-Pacific region and its biggest anywhere in the world. The entry of the deep-pocketed BlackRock will likely change the dynamics of the growing Australian battery storage market.
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