Iberdrola has acquired the Tungkillo battery storage project in South Australia from RES Australia, representing an investment of 275 million euros. The project will feature a capacity of 270 MW and 1,080 MWh of storage, with all key approvals, advanced grid connection rights, and land already secured. The facility is expected to enter operation in 2028.
The Tungkillo project will help strengthen Australia’s energy system by adding critical storage capacity to support the integration of renewable generation and enhance grid flexibility. Located strategically in southern Australia, the site is well positioned to deliver stability and reliability to the region’s electricity network.
For Iberdrola Australia, large-scale storage systems play a key role in providing firming capacity for its customer energy portfolios. The company is also advancing two other battery projects — Smithfield in New South Wales and Broadsound in Queensland — both scheduled to begin operations in 2026.
The acquisition of Tungkillo aligns with Iberdrola Group’s 2025–2028 strategic plan, which includes more than €1 billion in planned investments in Australia, primarily focused on expanding its battery storage portfolio in a market with a AAA credit rating.
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