European Energy will add a 40 MW/80 MWh AC-coupled battery energy storage system to the Mokoan Solar Farm in Victoria, Australia, with financing support from Deutsche Bank.
European Energy plans to integrate a 40 MW/80 MWh AC-coupled battery energy storage system at the Mokoan Solar Farm in Victoria, Australia, backed by financing assistance from Deutsche Bank.
The Denmark-headquartered European Energy intends to construct an AC-coupled battery energy storage system next to its already functioning 58 MW Mokoan Solar Farm near Wangaratta, Victoria, following the attainment of financial close for the 80 MWh initiative.
European Energy indicated that the German bank Deutsche Bank supplied a non-recourse financing arrangement to refinance the current debt associated with the solar farm and to facilitate the building and running of the adjacent battery energy storage system.
European Energy Australia Managing Director Catriona McLeod stated that achieving financial close for Mokoan establishes a solid base for the project's subsequent stage and represents a key achievement within the company's Australian operations.
“This is our second battery to reach this important milestone and it will be our first battery to come online,” she said, adding that European Energy is planning to add battery storage to most of its Australian projects.
European Energy Australia maintains a renewable energy development pipeline totaling around 10 GW, encompassing initiatives ranging from initial assessments to those that are completely active.
“Batteries are a huge part of our strategy,” McLeod said. “They have the potential to maximise our renewable assets while providing more renewable energy when it’s needed most, and we’re planning to add them to most of our sites over the coming years.”
European Energy Deputy Chief Executive Jens Peter Zink noted that facilities such as Mokoan, which merge solar generation with storage to deliver consistent output and operational adaptability, are gaining greater appeal among institutional investors.
“Our battery portfolio is expanding across markets, and securing financing for this co-located storage system in Australia is an important milestone,” he said.
The 58 MW Mokoan Solar Farm, backed by the federal government’s revenue underwriting Capacity Investment Scheme, has been fully operational since June 2025 and produces roughly 113 GWh of electricity each year.
McLeod indicated that work on the battery will begin shortly, with commissioning anticipated around the middle of next year. Upon entering service, the two-hour AC-coupled battery energy storage system should help reinforce grid stability and enhance the incorporation of renewable energy sources into the Victorian grid.
The financial close for Mokoan comes after European Energy’s recent disclosure of financial close on the Winton North solar farm and battery initiative, which is now under development in Victoria’s northeast region.
Winton North, featuring 130 MW of solar capacity paired with a 100 MW / 220 MWh battery energy storage system, remains in the construction phase with operations slated to start in 2027. After becoming active, the site is projected to produce 227 GWh of clean energy per year.
Both the Winton North and Mokoan solar farms receive support through a power purchase agreement (PPA) with the global technology company Amazon Web Services.
The developer entered into an arrangement last year to deliver over 170 MW of capacity to Amazon’s Australian operations. This pact further covers the 97 MW Bullyard PV project advancing near Bundaberg along the central Queensland coastline.
Originally reported by ESS News on Jul 21, 2026.
