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The asset
Hunter Valley Grid Battery Mezzanine — the underlying real asset securing this offering.
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Slide 1 of 3: The asset. Hunter Valley Grid Battery Mezzanine — the underlying real asset securing this offering.
Closing soonEnergy storage · Hunter Valley, NSW
Hunter Valley Grid Battery Mezzanine
Mezzanine tranche financing a 300MW / 600MWh grid-scale battery in the Hunter Valley. Revenue is drawn from frequency control ancillary services, energy arbitrage and contracted cap products, with a senior facility ranking ahead.
HVGB-26ERC-3643 (permissioned)Redbelly NetworkFIRB pre-screened300MW / 600MWh BESSFCAS revenue
Key metrics
- Attachment point
- 60%
- Detachment point
- 80%
- Contracted revenue
- 54% (cap contracts)
- Senior debt ahead
- A$180m
- Round-trip efficiency
- 88%
- Closing in
- 9 days
Use of proceeds
- Battery supply agreement milestone payments (A$41m)
- Grid connection and augmentation works (A$13m)
- Contingency and reserves (A$6m)
Structure
- Sponsor
- GridFirm Energy
- Trustee
- Equity Trustees
- Custodian
- Zodia Custody
- Instrument
- Mezzanine notes
- Ranking
- Second ranking — attach 60% / detach 80%
- LTV
- 80%
- DSCR
- 1.25x
- Maturity
- 2029-12-31
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