Macquarie Asset Management’s Green Investment Group launches new global battery storage platform, Eku Energy

07 November 2022

  • Macquarie Asset Management’s Green Investment Group has today announced the launch of Eku Energy, a global battery storage platform
  • Upon completion of the launch in all proposed jurisdictions, Eku Energy will have 190 MWh of flexible storage capacity under construction and a further development pipeline of more than 3 GWh across the United Kingdom, Australia, Japan, and Taiwan
  • Eku Energy will support the energy transition by helping to increase renewable energy capacity in the grid and providing the dispatchable clean power needed to ensure safe, reliable, and sustainable energy supplies

Macquarie Asset Management’s Green Investment Group, via the Macquarie Green Investment Group Energy Transition Solutions (MGETS) fund, has today launched global battery storage platform Eku Energy. 

The new standalone business will develop, build, and actively manage a portfolio of energy storage assets diversified across markets, revenue, and contracting structures.

Eku Energy’s initial portfolio will consolidate the Green Investment Group’s existing battery storage activities in the UK, Australia, Japan and Taiwani. Subject to receipt of relevant regulatory approvals, Eku will hold a pipeline of developed, acquired, or identified projects totalling over 3 GWhii including a 150 MW / 150 MWh project in Australia at the site of the decommissioned Hazelwood coal-fired power station in Victoriaiii. At launch, Eku will also hold one project under construction in the UK – a 40 MW/40 MWh facility in Essex.

Battery storage is an essential enabler of the energy transition, helping energy systems match green energy generation to demand. By capturing and storing excess clean energy produced when there is an oversupply and then dispersing energy when there is a shortage or additional demand, batteries can ‘time shift’ the delivery of clean, dispatchable power.

With sub-second response times, they also offer multiple additional services which help manage and balance electricity grids. This enables more renewable energy capacity to connect into the grid, supporting the digitisation, electrification and decarbonisation of economies, while helping secure supply.

An experienced global management team has been appointed so Eku Energy can harness its specialist in-house capability in the battery and flexible energy storage sectors. Based in local markets and benefitting from a data-driven understanding of global financial and energy markets, Eku Energy is well placed to identify advantageous project locations, partner with offtake clients, optimise trading and dispatch allocations, and model complex revenue layering scenarios associated with the delivery of grid services. Following receipt of relevant local regulatory approvals Eku Energy will have fast-growing teams located across London, Melbourne, Sydney, Singapore, Tokyo and Taipei. 

"As the world races towards net zero, the challenges around the energy transition are shifting. We’ve proven we can produce renewable energy at low cost, now we need to deliver the smart, flexible energy system that will support the electrification of the global economy. Battery storage is critical to maximising the role for renewables in our energy mix by enabling the delivery of dispatchable clean energy. We’re excited to be at the leading edge of this journey, delivering the investment and projects at scale that will be key to net zero."

Chris Morrison
Interim CEO of Eku Energy

"The energy transition demands an overhaul of our entire energy system. We’ve been working to accelerate the deployment of energy storage solutions for many years now and are excited by the opportunity to take this work to the next level with the launch of Eku Energy. There is a significant volume of investment required in these technologies in the years ahead. We are well positioned to support this demand – harnessing our sectoral knowledge and global presence, while leveraging learnings from around the world, to provide our investors with exposure to this defining investment theme.”

Mark Dooley
Global Head of the Green Investment Group

Eku Energy has been established at a time when demand for battery storage is rapidly growing due to its role as a critical enabler of the low-carbon economy and clean grids. By 2030, it is forecast that capacity is expected to increase 15 times over from 46 GW in 2021 to 411 GWiiii. This demand is being supported by the global drive for Net Zero and declining technology costs associated with renewable energy.



i On launch, Eku Energy will commence operations in the UK and Japan with commencement of operations and transfer of seed assets in other jurisdictions to occur as relevant regulatory approvals are obtained.
ii Company estimates as at August 2022
iii Subject to Foreign Investment Review Board (FIRB) approval
iiii BNEF, Global Energy Storage Markets, October 2022


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About Eku Energy

Eku Energy is a globally diversified and technology enabled energy storage business. We are dedicated to developing, building, and actively managing energy storage assets for the long term to enable reliable, clean energy supply. Our portfolio contains flexible utility-scale storage capacity in key markets around the world.

Established by Macquarie Asset Management’s Green Investment Group, we utilise technical and financial innovation to provide vital grid services that support the supply of reliable, clean energy: advancing the energy transition

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