Australian developer gets funding boost for 2 GW-plus renewable energy plans and big solar battery hub

The developer behind Victoria’s Mortlake Energy Hub has secured a €150 million (around $A245 million) investment from global asset manager Mirova to accelerate the development of more than 2 gigawatts (GW) of multi-technology renewable energy infrastructure across Australia.

Renewable energy developer Yanara, which was spun out of BrightNight’s Asia Pacific business last year, announced this week it had secured the approximately $A245 million investment from Mirova, an affiliate of Natixis Investment Managers, one of the world’s largest asset managers.

The investment will be used to support the development of more than 2 GW of renewable energy across Victoria, New South Wales, and Western Australia.

A “significant portion” of the investment is destined to support the ongoing construction of Yanara’s flagship Mortlake Energy Hub in Victoria, which combines 450 megawatts (MW) of solar with a 600 MW/2,400 megawatt-hours (MWh) battery energy storage system (BESS) capable of supplying 600 MW for four hours.

Construction of the Mortlake Energy Hub is aiming to start in mid-2026, suggesting an announcement could be made at any point now.

The project should not be confused with Origin Energy’s Mortlake Battery Energy Storage System, which joined the national grid management system ahead of final tests and commissioning in March of this year.

The Mortlake Energy Hub is part of Yanara’s growing portfolio of hybrid and dispatchable renewable energy projects being built across Australia, India, and the Philippines, which currently exceeds 5.1 GW spanning wind, solar, and battery.

However, this latest investment represents Yanara’s first dedicated capital raise in Australia.

“This investment marks yet another defining milestone in Yanara’s growth journey,” said Jerome Ortiz, CEO of Yanara.

“Mirova is one of the world’s most respected sustainable investors, and we are proud to welcome them as our partner in Australia. We share a common vision of accelerating the energy transition through high-quality infrastructure that delivers long-term environmental, social and economic value.

“Together, we will help build the next generation of reliable and dispatchable renewable energy solutions for Australia.”

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