Danish developer European Energy has reached financial close on the 80MWh Mokoan solar-plus-storage project in Victoria, Australia.
Catriona McLeod, the managing director of European Energy Australia, pointed out that locking down financial completion builds a firm economic foundation for the construction period of the undertaking.
She conveyed that securing monetary finalization for Mokoan stands as a major milestone for their portfolio of Australian assets, pointing out that support from Deutsche Bank spans the refinancing of the operating solar installation and the construction capital for the battery energy storage system, consequently creating a solid footing for the upcoming phase of the project.
Rachel Chia, holding the position of head of project finance for the Asia-Pacific territory at Deutsche Bank, observed that the transaction demonstrated a growing institutional appetite for integrated renewable energy assets.
She mentioned that the pact demonstrates their ability to deliver holistic financial packages across the full lifecycle of an asset, supporting collaborators as they construct vital electrical infrastructure, while emphasizing that Deutsche Bank has supported the financing of more than twelve gigawatts of renewable energy installations across Australia starting in 2019.
The financial closure for Mokoan represents the second such achievement for European Energy within Australia over a period of three weeks.
The firm successfully finalized funding for the Winton North solar and storage project during the early days of July, which constitutes a one hundred thirty megawatt solar and one hundred megawatt by two hundred twenty megawatt-hour battery energy storage system deployment located in northeastern Victoria backed by debt funding provided by Commerzbank and Societe Generale, together with Amazon securing power purchase agreements covering output from both the solar array and the battery storage element.
Construction works at Winton North have already begun and look toward completion during the year 2026.
Sister publication PV Tech reported in March 2025 that European Energy brought the Mokoan solar photovoltaic power station live as its first Australian solar property, subsequent to the acquisition of the project from Lightsource bp in December 2022.
The site employs bifacial photovoltaic modules and reached full operational capacity in June 2025, with financial backing for the solar-only phase provided by NORD/LB Singapore in compliance with green loan principles.
The Mokoan financial agreement shifts the initial single-technology financing structure into an expanded agreement covering the hybrid setup, with the battery installation currently initiating its building phase.
European Energy deputy chief executive officer Jens Peter Zink indicated that the Mokoan conclusion reflected the corporate strategy of pairing dependable solar generation with battery storage to meet increasing institutional demands for flexible, contract-backed assets.
He remarked that facilities combining steady generation with operational flexibility become increasingly attractive to institutional investors, with Australia continuing as a core component of their broader growth strategy, while noting that their battery portfolio expands globally and securing financial support for this co-located storage facility locally represents a significant achievement.
The two Victorian financial closures take place amid a broader acceleration of the Australian hybrid solar and storage project pipeline.
Australia added nine point one gigawatts of new generation and storage capacity throughout the 2026 financial year, marking a figure more than double the result of the 2025 financial year, with battery projects spearheading the connection queue alongside a growing share of new solar developments incorporating co-located storage during the application stage.
The Australian Energy Market Operator scorecard released in June 2026 revealed that two point four gigawatts of operating solar assets commenced or completed processes aimed at integrating battery installations throughout the 2026 financial year, a volume demonstrating the rapid mainstreaming of the hybrid configuration across the National Electricity Market.
Originally reported by Energy Storage News on Jul 20, 2026.
