Akaysha Raises USD 195m to Advance Global Battery Storage Projects

Akaysha Energy Pty Ltd, an Australian battery storage developer backed by BlackRock Inc (NYSE: BLK), has secured AUD 300 million (USD 195 million / EUR 167.7 million) in debt funding to accelerate the growth of its international BESS portfolio.

The financing package includes a three-year multi-currency revolving loan and a letter of credit facility. Akaysha said the facility will support the development and construction of projects across Australia, the United States, Japan, and Germany.

The debt facility was arranged by a syndicate of major lenders, including BNP Paribas, Deutsche Bank, ING, SMBC, and Westpac, with an option for future expansion. According to the company, this marks the first borrowing base loan structure tailored to Australia’s renewable energy sector.

Andrew Wegman, Akaysha’s Chief Financial and Investment Officer, noted that the structure offers both flexibility and scale, positioning the company to take advantage of significant near-term opportunities in global markets. He added that the strong backing from lenders underscores confidence in Akaysha’s strategy and the vital role of large-scale batteries in delivering a secure and sustainable energy transition.