Revera Energy, a battery storage and solar developer owned by Carlyle, has obtained $US150 million ($222 million) in debt funding to facilitate the expansion of its project portfolio in both Australia and the UK. Revera Energy specialises in developing and operating battery storage and solar energy facilities. The company aims to contribute to a more sustainable energy future through innovative renewable energy solutions.
The funding will accelerate key projects, including the Bungama battery storage project located in South Australia. In addition, Revera plans to develop an additional 600 megawatts of battery storage, representing 2400 megawatt-hours of capacity, across the National Electricity Market. These initiatives are designed to enhance grid stability and support the increasing demand for renewable energy sources.
The Bungama project is on track to commence commercial operations in the June quarter of this year. Following this, the next 240 MW project is slated to begin construction in the September quarter of 2026, further solidifying Revera Energy’s commitment to expanding its energy storage capabilities. The financing arrangement was managed by Nomura.
