For the second time this year, Octopus Australia has brought a landmark energy project to financial close and into construction. Blind Creek Solar Farm and Battery project, located in Bungendore, NSW, will be one of the largest projects of its kind in the national grid, combining a solar farm and battery in a way that delivers more clean power into the evenings when demand is highest.
The project is backed by Octopus Australia funds, which includes investment from Hostplus, Rest Super, the Clean Energy Finance Corporation (CEFC), Westpac Private Bank and global infrastructure leader APG, a powerful signal of investor confidence in Octopus Australia’s energy strategy.
Blind Creek is more than just a renewable energy project. Developed in close partnership with local landholders, it will operate as a true agri-solar model, specifically designed to enable sheep grazing to continue across the site while enhancing land productivity with solar infrastructure.
“Reaching financial close on Blind Creek marks a major milestone for Octopus Australia and our commitment to accelerating the clean energy transition. This achievement demonstrates the strength of our strategy to deliver renewable energy projects that provide long-term value for communities and investors alike.” Octopus Australia Co-Managing Director of Renewables Sonia Teitel said.
CEFC CIO – Renewables and Sustainable Finance, Monique Miller said:
“The start of construction at Blind Creek marks a major milestone in Australia’s clean energy transition. This is a powerful example of how global capital and Australian innovation can work together to deliver renewable energy at scale. By integrating solar generation, battery storage and regenerative agriculture, Blind Creek is powering local homes while supporting local business. We’re proud to be a part of this pioneering project as it drives change across the energy and agricultural sectors.”
Once complete, the Blind Creek project will generate up to 300MW of clean electricity, enough to power more than 120,000 homes. Its 243MW / 486MWh battery will store energy for use during peak demand, delivering the equivalent emissions reduction of taking 200,000 cars off the road each year.
Octopus Australia continues its collaboration with GRS as EPC Contractor and Wartsila as battery energy storage system (BESS) supplier to deliver the DC-coupled solar hybrid project. The project will create up to 300 jobs at the height of construction and provide ongoing employment once operational.
About Octopus Australia
Octopus Australia is an energy fund manager and developer harnessing capital and expertise to accelerate the energy transition, with a portfolio and pipeline of over $15 billion across wind, solar and battery storage projects.
Octopus Australia is more than just an energy infrastructure player: we take an AI driven data and technology driven approach to constructing an energy portfolio where we ‘stack’ wind, solar and large batteries into the one energy generation portfolio.
The term “stacking” refers to the integration of multiple renewable energy sources along with batteries to create a reliable, efficient and sustainable generation system.
The complementary energy generation profiles of wind, solar and battery storage provide a supply of energy that competes with baseload coal and gas in Australia. This maximises grid usage and providing upside returns, while improving grid resilience by reducing intermittency. Our stacked portfolio of assets has other benefits such as cost synergies and a streamlined permitting process, especially in Australia where there are favourable regulatory framework and political settings.
Our team of over 60 highly skilled professionals across Melbourne and Sydney have a unique blend of skills and deep industry expertise across investment, energy markets, development, construction, grid, engineering, stakeholder and community engagement, and legal. This allows us to manage projects across their entire lifecycle and to construct and operate a large integrated energy portfolio.
About the CEFC
The CEFC is Australia’s specialist climate investor, helping cut emissions in the race towards net zero by 2050. We invest in the latest technologies to generate, store, manage and transmit clean energy. Our discounted asset finance programs help put more Australians on the path to sustainability, in their homes and on the road. CEFC capital is also backing the net zero transformation of our natural capital, infrastructure, property and resources sectors, while providing critical capital for the emerging climate tech businesses of tomorrow. With access to more than $33 billion from the Australian Government, we invest to deliver a positive return for taxpayers.
