What is the Orana battery energy storage system (BESS)?

This funding will support the construction of the Orana Battery Energy Storage System (BESS), a project that will add over 1,660MWh of storage capacity to the National Electricity Market (NEM). Akaysha’s Orana BESS is the largest BESS (four-hour) in the National Energy Market at 415MW/1660MWh. Image: Akaysha

Will akaysha support the Orana battery energy storage system?

“Akaysha will do this for them,” he said. The Orana battery energy storage system (BESS) is also supported by a long-term energy service agreement with the NSW and Commonwealth governments that will require Akaysha to deliver at least half the capacity in the event of a supply shortfall declared by the Australian Energy Market Operator (AEMO).

How much does akaysha energy's Orana Bess project cost?

Akaysha Energy has closed a financing deal worth A$650m ($438m) for the Orana BESS project in New South Wales, Australia.

Who is delivering the Orana battery system?

The Orana battery system will feature Tesla Megapack technology while the balance of plant will be delivered by Consolidated Power Projects Australia. The debt raise has been provided by a group of 11 domestic and foreign banks including ANZ, Commonwealth Bank and Westpac.

Is the Orana battery a real lighthouse project?

Akaysha Chief Executive Officer and Managing Director Nick Carter said the Orana battery is “a real lighthouse project for the market,” showing what can be achieved not only with innovative and complex contracted offtake, but also how to finance large mega-scale systems that are requiring exponentially larger amounts of capital.