energy-storage.news
Aug 27, 2026
HMC Capital’s KKR partnership funds 90% of first new-build battery storage site equity in Australia
AI-summarised brief · reviewed before publication
HMC Capital announced that its Illuma Energy platform has secured equity for a new 300 MW/1,200 MWh battery storage project in Victoria, Australia, with KKR funding up to 90% of the equity. The Moorabool BESS, located near Geelong, follows HMC’s 2025 acquisition of Neoen’s Victorian portfolio and sits adjacent to the existing 450 MWh Victorian Big Battery. The project benefits from a federal Capacity Investment Scheme Agreement, de‑risking its economics. Illuma Energy’s portfolio now totals 652 MW, ranking it among the top ten in the NEM.
💡 Why It Matters
- · The partnership demonstrates how large financial investors are accelerating Australia’s battery deployment, potentially reshaping the national grid’s flexibility and reducing reliance on fossil fuels.
