Vena Energy has secured approximately A$1.4 billion in green financing facilities to support the development and expansion of its solar power and battery energy storage system (BESS) projects across Australia. The financing will help the company strengthen its renewable energy portfolio while supporting the country’s transition to cleaner and more reliable power.
The funding has been arranged through two separate financing transactions that combine funding for new renewable energy projects with the refinancing of existing facilities. The first transaction supports a total of 294 MWp of operational solar capacity, 320 MWp of solar capacity that is currently under construction, and 408 MWh of battery energy storage capacity under construction. These projects are located in the Tailem Bend precinct in South Australia and the Wandoan South precinct in Queensland.
The second transaction supports the construction of two adjacent battery energy storage projects with a combined capacity of 583 MWh in New South Wales. It also includes the operational 150 MWh Wandoan South battery energy storage system in Queensland. By combining operational and under-construction assets with different financing needs, Vena Energy aims to improve funding efficiency and create greater flexibility for future growth across its Australian operations.
Simone Grasso, Chief Investment Officer of Vena Group and Global Head of Vena Nexus, said the transactions reflect the company’s disciplined approach to capital allocation. He stated that the financing demonstrates Vena Energy’s ability to attract large-scale, long-term investment for high-quality renewable energy infrastructure. He added that Australia remains an important market in the company’s Asia-Pacific growth strategy and that the strong support from both international and local lenders highlights confidence in Vena Energy’s platform, execution capabilities, and the long-term importance of renewable energy and energy storage in the region.
Owen Sela, Head of Australia at Vena Energy, described the financing as a major milestone for the company’s Australian business. He said it validates the strength of the company’s solar and battery strategy and will help expand its renewable energy platform while improving grid stability, reliability, and the integration of renewable power into Australia’s electricity system.
According to Vena Energy, the financed solar assets are expected to generate enough renewable electricity to meet the annual power needs of around 198,000 Australian households. The projects are also expected to avoid more than one million tonnes of carbon dioxide emissions each year. This environmental benefit is comparable to removing around 228,000 vehicles from the roads or planting approximately 17.5 million trees. In addition, the projects are expected to save nearly 904 million litres of water annually compared to conventional electricity generation.
The financing was supported by a consortium of international and local banks, including BNP Paribas, Bank of China, DBS Bank, ING Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, OCBC, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, and Westpac Banking Corporation. Ashurst served as legal adviser to Vena Energy, while Norton Rose Fulbright and Corrs Chambers Westgarth acted as legal advisers to the lending institutions.
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