BLACKSTONE INVESTMENT PARTNER

FIRM POWER JOINS FORCES WITH OCTOPUS

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Firm Power is delighted to announce its partnership with Octopus Australia for the development of the 1GWh Blackstone battery project. Firm Power secured the strategically- positioned site in 2022 and has since lodged the development application with Ipswich City Council and commenced grid modelling.

Firm Power successfully managed the Blackstone transaction internally. There was strong interest from a range of local and international investors known to the Firm Power executive team. The Firm Power team is excited to work with a conviction investor such as Octopus Australia, who understands the importance of founding a renewables platform on a firmed portfolio of dispatchable battery assets.

As one of the largest batteries proposed in Queensland, the Blackstone Project is well located to provide system strength and reliability to the electricity network in the high-load, high-growth corridor of South-East Queensland. Once constructed, Blackstone will store 1 gigawatt-hour of energy, offering the ability to power up to 70,000 homes for one day. The project will make a significant contribution to the Queensland Government’s commitment to achieving 80% renewable energy by 2035 whilst reducing intermittency.

Independently owned and operated, Firm Power continues to build on its national energy storage platform with 1GW of projects under co-development with strategic partners and a further 2GW of BESS projects in its pipeline.

If you would like to find out more please get in touch below read through at the Australian Financial Review

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