BlackRock’s Akaysha Gets A$300 Million to Grow Battery Fleet

BlackRock's Akaysha Gets A$300 Million to Grow Battery Fleet

(Bloomberg) — BlackRock Inc.-owned Australia battery maker Akaysha Energy Pty. has raised A$300 million ($196 million) in debt to expand its global battery fleet, according to a company statement.

BlackRock’s Akaysha Gets A$300 Million to Grow Battery Fleet

Akaysha Energy bags AU$300 million corporate debt facility for global battery storage expansion

Australian battery storage developer Akaysha Energy has secured an AU$300 million (US$196 million) corporate debt facility to accelerate its growing portfolio of utility-scale battery energy storage system (BESS) projects across Australia and global markets.

Akaysha Energy Secures $300 Million Debt Facility

BlackRock’s Akaysha Energy has secured a $300 million corporate debt facility from a group of Australian and international banks. The company stated that this borrowing base loan is the first of its kind in the Australian renewable energy sector. The syndicate providing the three-year, multi-currency loan and letter of credit facility includes BNP Paribas, Deutsche Bank, ING, SMBC, and Westpac. Akaysha will have the capacity to increase the size…