Copenhagen Infrastructure Partners (CIP) has reached an agreement to sell its entire stake in the Summerfield battery energy storage system (BESS) to Palisade Investment Partners.
Located near Adelaide in South Australia, the Summerfield project is a 240 MW / 960 MWh lithium-ion battery system capable of a four-hour discharge duration.
CIP acquired the site in 2022 and has since managed the development, including procurement, grid connection, and offtake agreements.
Construction commenced in February 2025 and is now substantially complete, with full energisation slated for May 2026 and commercial operations expected to begin later this year.
The battery will play a critical role in supporting South Australia’s grid stability, providing essential energy storage services as the state moves toward its ambitious target of 100 per cent net renewable energy by 2027.
Thomas Wibe Poulsen, Partner and APAC Lead at CIP, said: “CIP has successfully de-risked this large-scale battery project throughout development and construction, demonstrating our ability to manage risk and deliver value to our investors.”
He added that CIP remains committed to the Australian market, with a pipeline of other large-scale projects currently under development.
For Palisade, a veteran investor in Australia’s clean energy sector, the acquisition represents a strategic expansion of its storage portfolio.
Simon Parbery, a Partner at Palisade, described the project as a key asset for the company’s Intera Renewables platform.
“Summerfield represents Palisade’s second investment in large-scale energy storage, providing both attractive risk-adjusted returns to investors and long-term strategic value to our Australian renewables platform,” Parbery said.
CIP is a global fund manager and leading investor in energy infrastructure, developing and constructing critical infrastructure projects that shape the future of energy.
Through its funds, CIP invests in power generation (solar and wind), energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels and carbon capture.