The latest renewable energy news includes announcements from Blackstone, Akaysha Energy, European Commission’s Innovation Fund, and others.
Blackstone Closes $8.7 Billion Energy Transition Fund to Invest in Power Generation and Infrastructure
Blackstone announced the final close of Blackstone Energy Transition Partners V at $8.7 billion on October 19, 2026. The oversubscribed fund reached its hard cap and is more than 50 percent larger than its predecessor. Investment activities began in June 2026, with capital already committed to Kindle, Fisterra and Viridon, platforms developing electricity generation and transmission infrastructure. Blackstone has also invested in energy-efficiency and infrastructure businesses. The firm’s energy transition strategy has committed more than $34 billion in equity globally. The new fund will support electricity infrastructure, manufacturing capacity, grid reliability and energy-related companies responding to rising power demand.
European Commission Selects 77 Clean Technology Projects for €3.4 Billion Innovation Fund Support
The European Commission has selected 77 net-zero technology projects across 23 European countries for approximately €3.4 billion in Innovation Fund support. Announced October 19, the selection includes €1.58 billion for 12 large-scale decarbonisation projects, €895 million for 12 clean-technology manufacturing projects and €458 million for 17 medium-scale developments. Another €394 million will support 16 pilot projects, while €124 million is allocated to 20 smaller projects. Technologies include solar manufacturing, batteries, electrolysers, hydrogen, renewable fuels and industrial decarbonisation. Selected projects could avoid approximately 290 million tonnes of greenhouse gas emissions over 10 years. Grant agreements are expected to be finalised in early 2027.
Akaysha Energy Closes A$1.75 Billion Financing for Australian Battery Storage Portfolio
Australian battery developer Akaysha Energy has secured A$1.75 billion ($1.22 billion) in portfolio financing from a consortium of 11 banks. Announced October 20, the transaction refinances debt associated with the Brendale, Orana, Ulinda Park and Elaine battery storage projects. Participating lenders include ANZ, BNP Paribas, Bank of China, CIBC, Commonwealth Bank of Australia, Deutsche Bank, DNB, ING, Mizuho, MUFG and Rabobank. The financing comprises facilities with five-, seven- and ten-year maturities, alongside additional liquidity arrangements. Akaysha operates major grid-scale batteries and is developing approximately 6 GW/25 GWh of additional storage capacity across Australia’s National Electricity Market. The Elaine project is scheduled for completion in the second half of 2027.
