Gaw Capital and Singapore’s BW Group have launched a $1.3bn joint venture to invest in battery energy storage system (BESS) projects in Australia. The JV, named Valent Energy, will see the two companies commit over AUD2bn ($1.3bn) to develop and operate grid-scale BESS projects across the country. The portfolio will include seven BESS projects and one solar photovoltaic (PV) farm with a total capacity of over 1.6 GW. The companies aim to accelerate Australia’s transition to clean energy by providing grid stability through the storage of renewable energy.
Gaw and BW Group Unveil $13B Australian Energy Storage Venture
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