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Singapore-based clean energy developer Vena Energy has obtained AU$1.4 billion (US$970 million) in green financing to back 614MW of solar photovoltaic capacity and 1,141MWh of battery energy storage systems in Australia.
The funding, provided by lenders such as BNP Paribas, ING Bank, and Sumitomo Mitsui Banking Corporation, is structured across two separate deals. The first deal covers 294MW of operational solar PV capacity, alongside 320MW of solar capacity and 408MWh of battery storage that are currently being built. The second deal supports two adjacent battery storage projects under construction in New South Wales, totaling 583MWh, plus the 150MWh battery component of the Wandoan South Project, which is already operational in Queensland.
Vena Energy’s Australia head Owen Sela called this a major achievement for the company’s local operations and a strong validation of its solar and battery approach. He stated that matching financing structures with complementary assets enables the firm to keep expanding its Australian platform and delivering infrastructure that enhances grid stability, reliability, and the integration of additional renewable energy.
Vena Group Chief Investment Officer Simone Grasso noted that Australia is a crucial market within the company’s portfolio, and this week’s financing follows the start of expansion work on the solar PV portion of the Wandoan South project last year. The company has also exited projects in other areas, having sold a 6GW renewable energy portfolio to Indian independent power producer Inox Clean Energy last month.
The AU$1.4 billion financing brings together a battery storage pipeline that Vena Energy has been building across South Australia, New South Wales, and Queensland over the last two years. The 408MWh battery component in the first deal is under construction at Tailem Bend in South Australia, representing the third phase of Vena’s hybrid renewable energy project at that location. This new battery is located next to two existing Vena facilities at Tailem Bend, which make up the earlier phases. Construction started in December 2025.
On the revenue contracting side, Vena secured a AU$200 million long-term revenue share agreement with Danish energy trading firm InCommodities in March 2026 for a 204MW/510MWh battery storage system in Central West New South Wales. Under this deal, InCommodities will optimize and trade the battery’s output in the National Electricity Market over the contract period, giving Vena contracted revenue to support project financing while providing the trading partner direct access to large-scale storage dispatch capabilities.
Vena has also been expanding storage at its existing solar sites. The company added a 41.5MW battery to its solar PV plant in South Australia, co-locating it with an operational generation asset to boost dispatchability and earn extra revenue through energy arbitrage and ancillary services. That project, which utilized Tesla Megapack technology, was one of the earlier additions to what has since become a multi-site battery portfolio across three states.
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