BlackRock said Tuesday it would invest nearly $700 million into an Australian firm that creates battery storage and renewable energy projects.
is seeking to purchase Akyasha Energy, an Australian firm that specializes in battery storage and renewable energy projects
The company announced via a press release obtained by Fox Business on Tuesday that it will commit 1 billion Australian dollars, which is approximately $700 million, to develop over 1 gigawatt of battery storage. Additionally, BlackRock will expand Akyaysha energy storage projects all across Asia in Japan and Taiwan at an unannounced date.
Large energy storage systems are essential to maximum renewable energy capacity because these sources of energy are not constant. As more countries seek to expand into renewable energy capabilities, more interest has been seen in battery storage.
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