Getting battery energy storage systems built isn’t just an engineering challenge - it’s a financial one.

While the technology is ready and the pipeline is booming, getting these projects financed remains one of the biggest challenges in the market.

From navigating merchant risk to structuring offtake agreements, financing a grid-scale battery project is a high-stakes balancing act.

In this episode of Transmission, Harrison Moore, Partner at Azure Capital, joins Wendel to unpack the financial side of energy storage in Australia, what’s working, what’s not, and what’s needed next.

Over the conversation, they discuss:

• The key steps and common roadblocks in financing battery project.
• How different commercial models impact bankability and investor interest.
• The growing appetite (and caution) from equity and debt providers.
• How policy shifts like the Capacity Investment Scheme (CIS) are influencing deal flow.
• Whether the Australian market has enough capital and advisory depth to keep up with demand.

About our guest

Harrison Moore is a Partner at Azure Capital, where he leads the firm’s work in energy and renewables. With over a decade of experience advising on mergers, acquisitions, and capital raising, Harrison specialises in structuring and financing large-scale infrastructure projects, particularly battery energy storage systems. His team has supported transactions totalling over 10GW of battery capacity, helping navigate the commercial, technical, and regulatory challenges that come with building grid-scale flexibility in Australia.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

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