- Tungkillo project in South Australia involves a €275M investment for 270 MW and 1,080 MWh capacity.
- Iberdrola plans to invest €1B in Australia's battery storage by 2028.
- Tungkillo's operation is expected by 2028, with advanced approvals and secured land.
- Iberdrola's 2025-28 plan includes €58B investment, focusing 85% on A-rated countries.
Project Overview
Iberdrola has acquired the Tungkillo battery storage project in South Australia from RES Australia, involving a €275 million investment. The project will have an installed capacity of 270 MW and a storage capacity of 1,080 MWh. It has received all key approvals, advanced connection rights, and secured land, with operations expected by 2028.
Strategic Investment
This acquisition aligns with Iberdrola's plan to invest €1 billion in Australia's battery storage sector by 2028. The Tungkillo project is part of Iberdrola's broader strategy to expand its battery storage business in Australia, as outlined in its recent Capital Markets Day presentation.
Additional Projects
Iberdrola Australia is also developing two other battery projects: Smithfield in New South Wales and Broadsound in Queensland, both scheduled to commence operations in 2026. These projects aim to provide backup capacity for Iberdrola's energy sales contracts.
Global Investment Plan
Iberdrola's 2025-28 strategic plan includes a total investment of €58 billion, with 85% allocated to countries with stable and attractive regulatory frameworks. The United Kingdom, United States, Iberian Peninsula, Brazil, and other EU countries, along with Australia, are key investment destinations.
