A Landmark Acquisition in the Energy Sector
Octopus Australia has officially acquired the Hanworth Battery Energy Storage System (BESS) from the Victoria-based developer Enervest.
This deal marks a major expansion for Octopus, securing what is set to be one of the largest planned battery projects in the country.
With a massive capacity of 1.2 GW / 4.8 GWh, the project is designed to provide critical grid stability as the nation shifts away from fossil fuels.
Strategic Partnership for Future Development
While Octopus Australia will lead the project through planning approvals and construction, Enervest will remain a vital partner in the process.
Enervest will continue to support the venture through environmental studies and community engagement, leveraging its long-standing local relationships.
CEO Ross Warby noted that this sale is a pivotal step for Enervest as the company refocuses on its long-term strategy of owning and operating energy assets.
Unmatched Scale and Technical Impact
The Hanworth BESS is located near Bannaby in the New South Wales Southern Highlands, occupying a strategic 12-hectare site.
The facility will connect directly to the 330 kV Transgrid Bannaby Terminal Station, providing a high-capacity link to the National Electricity Market.
Once operational, the system will be capable of powering over 500,000 homes during evening peak periods when solar production naturally declines.
Replacing Smokestacks with Sustainable Storage
Octopus Australia CEO Sam Reynolds highlighted that this investment demonstrates unwavering confidence in Australia’s rapidly evolving energy market.
He emphasized that while some investors are hesitant, Octopus is “stepping forward” to build the modern power stations the country urgently requires.
By combining solar, wind, and large-scale batteries, the project aims to replace aging coal plants with clean, reliable, and dispatchable energy.
Economic and Community Integration
As a local landowner and ratepayer, Enervest will maintain a presence in the region, ensuring the project remains grounded in community trust.
The Hanworth BESS is a cornerstone of Octopus’s broader plan to create a “ring of batteries” around major demand centers like Sydney.
This acquisition, alongside others in Queensland, brings Octopus Australia’s renewable energy pipeline to a staggering valuation of approximately $16 billion.
