Renewable energy investments firm Copenhagen Infrastructure Partners (CIP), through its Copenhagen Infrastructure V (CI V) renewable energy fund, has commenced construction of the 240MW/960MWh Summerfield battery in South Australia.
The development follows a financial investment decision made in September 2024.
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The Summerfield battery project, located close to existing transmission infrastructure, will address South Australia’s increasing demand for energy storage.
The development is a strategic move to bolster the decarbonisation of the state’s power grid and enhance its reliability.
Australian electricity generator and retailer Origin Energy has signed a ten-year offtake agreement for the project.
CIP Australia head and partner Jørn Hammer stated: “We are pleased to start construction on CIP’s first large-scale energy storage project in Australia, which will be one of the largest in South Australia.
“CIP has a strong track record of developing, owning and operating renewable projects globally, and CIP is delighted to bring this expertise.”
The battery storage facility is designed to support the state’s goal of 100% net renewable energy by 2027.
It will store excess energy from wind and solar sources, ensuring the availability of renewable electricity during peak demand times.
CIP partner and head of Asia-Pacific Thomas Wibe Poulsen stated: “This is an important milestone for Summerfield and demonstrates CIP’s industrial approach in identifying a market need and delivering a large-scale project with a robust contractual framework, that creates value for society, the local community while securing attractive risk-adjusted returns to our investors.”
Summerfield is one of the projects backed by the CIP’s CI V flagship fund.
The fund has a target size of €12bn ($12.3bn) and focuses on renewable energy investments, including wind, solar photovoltaic and energy storage, across Europe, North America and Asia-Pacific.
CIP has raised €32bn through its 12 funds, attracting 180 international institutional investors.
