• Deutsche Bank committed $60 million to finance the third stage of Quinbrook’s Supernode battery storage project.
• The investment forms part of a $331 million senior secured, non-recourse financing package.
• Supernode will strengthen Queensland’s grid as renewable generation replaces emissions-intensive power sources.

Financing targets critical grid infrastructure

Deutsche Bank has committed $60 million to the third stage of Quinbrook’s Supernode Battery Energy Storage System in Queensland.

The bank joined the transaction as an original lender. Its commitment forms part of a $331 million senior secured, non-recourse financing package.

The funding will support the construction and operation of Supernode Stage 3. It also extends Deutsche Bank’s existing financing relationship with Quinbrook across the wider battery storage platform.

For investors, the non-recourse structure is significant. Repayment will depend primarily on the project’s assets and contracted revenues, rather than Quinbrook’s broader balance sheet. This structure can help allocate construction, operating and market risks among lenders, sponsors and contractual partners.

It also reflects growing lender appetite for large battery projects with credible revenue arrangements and strategic grid locations.

Supernode expands Queensland’s storage capacity

Quinbrook is developing Supernode as a major battery storage precinct near Queensland’s central electricity network.

The broader project is located beside the South Pine electricity transmission hub in Brendale. Its position gives the batteries direct access to a critical part of the state’s power system.

Large-scale batteries can absorb electricity when renewable generation is abundant. They can then dispatch that power during periods of higher demand or lower renewable output.

That capability is becoming more important as solar and wind supply a larger share of Australia’s electricity. Storage can reduce pressure on networks, improve system flexibility and limit reliance on emissions-intensive generation during peak periods.

Supernode’s first three stages are expected to provide 780 megawatts of battery capacity and more than 3,000 megawatt-hours of energy storage. Stages 1 and 2 are supported by long-term agreements with Origin Energy, while state-owned energy company Stanwell has contracted capacity from Stage 3.

The agreements provide greater revenue certainty for the project. They also show how utilities are using contracted storage capacity to manage price volatility and support renewable electricity portfolios.

Deutsche Bank deepens Quinbrook partnership

Rachel Chia, Head of Project Finance, APAC at Deutsche Bank, said: “We are delighted to continue our partnership with Quinbrook through the financing of Supernode 3, marking our second transaction together and further strengthening our collaboration across the Supernode platform. We are proud to be a key financing partner to Quinbrook as it delivers transformative energy infrastructure that supports Queensland’s energy transition and long-term economic growth.”

The transaction follows Deutsche Bank’s involvement in financing the first two Supernode stages. In that deal, the bank acted as lead arranger, original lender and hedge counterparty within a $509 million debt package.

Its latest commitment adds to a broader portfolio of energy and infrastructure financing across Australia and the Asia-Pacific region.

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Banks are increasingly competing to finance mature renewable energy and storage projects. However, lenders continue to assess construction risk, technology performance, electricity market exposure and the credit quality of contracted counterparties.

Projects with strong grid connections and long-term offtake agreements may be better positioned to secure debt on competitive terms.

What executives and investors should take away

The financing illustrates how battery storage is moving from a supporting technology into a core infrastructure asset class.

For utilities, storage offers a tool to balance intermittent renewable generation and respond to periods of peak demand. For governments, it can support energy security while reducing dependence on coal and gas generation.

Corporate energy buyers may also benefit from a more flexible electricity system. Greater storage capacity can help manage renewable intermittency, although network investment and market reform will remain essential.

For lenders and institutional investors, Supernode shows the value of combining strategic locations, contracted revenues and scalable development plans. These features can improve project bankability while supporting long-term infrastructure investment.

Queensland’s transition will require substantial capital across generation, storage and transmission. Deutsche Bank’s participation places private project finance behind that effort and adds momentum to Australia’s expanding battery storage market.