Octopus Australia has added what it believes to be Australia’s largest planned battery project to its portfolio.
Acquiring the 1.2GW/4.8GWh Hanworth BESS project in NSW from Enervest sees the British company expand its Australian presence at a time when new renewable energy investment in the country “has slowed”.
“Octopus Australia is one of the few major players defying the trend, continuing to build at scale, supported by the success of its portfolio model,” the company said.
According to data from BloombergNEF, investment in Australian wind and solar dropped 7 per cent year-on-year (yoy) in the second half of 2025. Utility-scale solar was a key driver of this decline, dropping 77 per cent yoy.
“While some investors are stepping back, we’re stepping forward,” Octopus Australia chief executive officer (CEO) Sam Reynolds said.
“Australia still needs new power stations to replace ageing coal plants. The difference is that today we can build them using a mix of solar, wind and batteries instead of smokestacks.
“By owning and operating our projects as one portfolio, we can deliver reliable power every day of the year – not just when the sun shines or the wind blows. This is about replacing coal with clean energy that works in the real world.”
Enervest CEO Ross Warby said the Octopus deal represented a “landmark outcome” for the Victorian-based developer.
“Partnering with a reputable, long-term partner like Octopus enables us to realise value from Hanworth while sharpening our focus on Enervest’s own-and-operate strategy,” he said.
Enervest is a significant battery player, holding stakes in a range of development projects, such as the Pinnacles, Black River, Stoney Creek and Cooroy BESS.
Octopus has also acquired the Dunmore project in Queensland, spanning a 300MW solar farm and 150MW/300MWh BESS project, from Samsung C&T Renewable Energy Australia (SREA).
“Dunmore is a high-quality project in a strong location, and we’re proud of the progress and outcomes delivered so far,” a SREA spokesperson said.
“Following the progress achieved to date, the project is set to move into its next phase under Octopus Australia, a long-term investor with the capability to deliver it, and we look forward to seeing it contribute to Australia’s future energy supply.”
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