Palisade Investment Partners, through Intera Renewables, has agreed to acquire full ownership of the 240MW-alternating current/960MW-hour (MWh) Summerfield battery energy storage system (BESS) from Copenhagen Infrastructure Partners (CIP).
The BESS project is located around 50km east of Adelaide, South Australia (SA).
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Developed by CIP, construction on the project began in February 2025.
Palisade is purchasing the asset while construction is already under way.
The project is supported by a long-term tolling arrangement with Origin Energy, with commissioning and commercial operations expected in late 2026.
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 life cycle, having successfully delivered all key development workstreams and with construction now substantially complete.”
Palisade has been investing in clean energy since the early days of the sector and currently owns, operates and manages a broad mix of renewable assets across Australia and the US.
With the addition of Summerfield, Palisade’s renewables platform will total approximately 2.5GW of capacity on a 100% ownership basis, including around 2.2GW in Australia.
Blue Power Partners will continue to oversee construction until the project reaches commercial operation.
After commissioning, Palisade Integrated Management Services, Palisade’s operations and management arm, will assume ongoing asset management responsibilities.
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.”
Intera is Palisade’s Australian renewables platform and the cornerstone investment of Palisade’s Renewable Energy Fund (PREF).
PREF owns 50% of the platform, with the remaining interest owned through Palisade’s Diversified Infrastructure Fund together with the Clean Energy Finance Corporation, Aware Super and HESTA.
Intera is pursuing a multi‑gigawatt programme spanning the full renewables life cycle, from development and construction through to operations.
In February 2025, Pacific Green Technologies finalised an agreement to divest a 250MW Australian BESS to Intera Renewables for A$460m ($293m).
