Revera Energy Secures US$150 Million to Support 3.4GWh of Battery Storage Across Australia and the UK

Why It Matters

The funding fast‑tracks critical grid‑scale storage capacity, bolstering renewable integration and helping Australia and the UK meet their net‑zero targets.

Key Takeaways

• $150M credit facility expands Revera’s battery portfolio.
• 3.4 GWh capacity targeted across Australia and UK.
• Bungama Stage 1 (150 MW/300 MWh) slated for Q2 2026.
• 600 MW additional Australian storage planned by 2026.
• 1 GW UK storage projects to start Q1 2026.

Pulse Analysis

Australia’s National Energy Market is rapidly absorbing wind and solar output, creating a pressing need for flexible, fast‑responding storage to balance supply and demand. Grid‑scale batteries not only smooth intermittency but also provide ancillary services such as frequency regulation and congestion relief. Revera’s focus on the NEM aligns with policy incentives that reward storage participation, positioning the company to capture a growing share of a market projected to exceed 10 GW of capacity by the end of the decade.

The $150 million credit line, led by Nomura and underpinned by Carlyle’s infrastructure expertise, reduces the capital‑raising risk that often stalls large‑scale energy projects. By securing long‑term financing, Revera can lock in favorable construction contracts, accelerate procurement of battery modules, and meet the notice‑to‑proceed milestones for its Australian and UK pipelines. This financial backing also signals to other institutional investors that the battery‑storage sector offers a stable, inflation‑hedged asset class with predictable cash flows from capacity‑market contracts.

Strategically, Revera’s dual‑market approach diversifies geographic exposure while leveraging common technology platforms, enabling economies of scale in engineering, procurement, and construction. The UK projects address transmission bottlenecks that currently limit Scottish wind exports, directly supporting the country’s net‑zero roadmap. As grid operators worldwide tighten reliability standards, Revera’s expanded portfolio could become a benchmark for integrated renewable‑plus‑storage solutions, attracting further capital and potentially catalyzing additional mergers or joint ventures in the sector.

Revera Energy secures US$150 million to support 3.4GWh of battery storage across Australia and the UK

By George Heynes · February 10, 2026

Energy infrastructure platform Revera Energy has completed an expanded US$150 million credit facility to accelerate development and construction of its battery‑storage, solar and green‑hydrogen project pipeline across Australia and the United Kingdom.

The Carlyle‑backed platform was formed last year with a focus on the UK and Australia. It started by carving out assets from renewables developer Amp Energy, which is also backed by US multinational investment firm Carlyle.

The facility upsize, with Japanese financial services company Nomura as sole bookrunner and lead arranger, reflects institutional confidence in Revera’s development capabilities across two of the world’s top‑five battery‑storage markets, the firm said.

Law firm Norton Rose Fulbright served as lender’s counsel, while A&O Shearman acted as borrower’s counsel for the transaction, which is expected to be upsized further in the near term.

The additional capital will support the construction of the 150 MW / 300 MWh Bungama Stage 1 battery storage project in South Australia, with commercial operation targeted for Q2 2026.

Revera Energy’s Bungama Stage 1 BESS in South Australia (pictured), acquired from Amp Energy last year, is expected to be completed in Q2 2026. Image: Amp Energy.

Revera previously secured financing for the first stage of what was then an Amp Energy project, before Carlyle’s shift.

The financing will also accelerate development of at least 600 MW / 2,400 MWh of additional battery‑storage capacity across Australia’s National Energy Market (NEM), with the firm teasing that the next 250 MW project is expected to reach notice to proceed in Q3 2026.

The majority of Revera’s Australian pipeline has secured land, grid connections, and planning approvals. The company also manages 158 MW of operational solar PV power plants in New South Wales.

Financing to support 2,000 MWh of battery storage in the UK

Revera plans to accelerate development of at least 1,000 MW / 2,000 MWh of late‑stage battery‑storage projects in the UK, with the first 200 MW project expected to reach notice to proceed in Q1 2026.

Two additional projects totalling 800 MW are expected to follow over the next 12 months, each having secured land, grid connections, and capacity‑market contracts.

The UK projects aim to strengthen grid resilience and address transmission bottlenecks that prevent stranded Scottish wind generation from reaching demand centres in England.

This infrastructure development supports national decarbonisation commitments and continued additions of renewable energy to the UK grid, with Revera targeting one of the largest battery‑energy‑storage‑system platforms in Europe.

“This funding enhancement accelerates Revera’s ability to take advantage of increasing demand in Australia and the UK for grid‑scale storage and renewable energy generation capacity, supporting its continued progress as a leading player in the sector,” said Richard Hoskins, chairman of Revera Energy and managing director in Carlyle’s Infrastructure Group.

Hoskins noted that Australia’s NEM continues to integrate record levels of renewable energy, creating opportunities for battery storage to provide essential grid services. The UK’s net‑zero targets and grid modernisation requirements are driving demand for flexible energy infrastructure.

“A transformational step in Revera’s growth as we scale our platform to meet the urgent infrastructure needs of both the Australian and UK energy markets,” said Andy Hoffman, CFO of Revera.

The increased financial capacity will enable the company to accelerate high‑value development opportunities while reinforcing its commitment to delivering sustainable energy solutions.