BlackRock to spend $1b on batteries in Australia as coal closures loom | NickToscano1
The world’s biggest fund manager, BlackRock, has selected Australia for the rollout of its largest investment in grid-scale batteries that will be crucial to driving the shift from coal to clean energy.
The commitment marks the American behemoth’s first investment in deploying battery storage projects in the Asia-Pacific region, and its most significant investment in batteries globally. “For Australia to become a renewable energy superpower, battery storage is going to be required at vast scale.” Akaysha managing director Nick Carter said BlackRock’s involvement and access to capital would be vital to fast-tracking its nine east-coast projects.
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