Every day, we have the best financial interests of our members and investors in mind. That means investing your money responsibly with the aim of achieving long-term growth.
That's why we’re investing in the Blackstone battery energy storage system (BESS), an initiative that aims to support Queensland's energy future.
What is battery energy storage?
A battery is a type of technology that stores chemical energy. It then converts and releases it as electrical energy when needed.1 We use batteries every day in our mobile phones, cars, toys, and more.
Battery energy storage systems are large-scale versions of these types of batteries.
BESS are designed to store excess electricity generated during periods of low demand. They can then release it when demand is high or during power outages. They're flexible, versatile and cost-efficient. As such, they’re becoming a valuable form of renewable energy storage in Australia.2
The Blackstone BESS
Hostplus, through our partnership with Octopus Australia, is investing in a BESS that’s planned to be built in Blackstone, a suburb of Ipswich, Queensland.
Once completed, the Blackstone BESS will be the largest battery in Queensland. It’ll have the capacity to store 1,000 megawatt-hours (MWh) of electricity. That’s enough to power up to 70,000 homes in one day.3
The Blackstone BESS is able to quickly supply power when demand is high. In doing so, it could help stabilise the electricity grid.
The Queensland Government has committed to meet a clean energy target of 70% renewable energy by 2032.4 BESS might help achieve that goal.
Helping build Australia’s future
Hostplus has invested over $9 billion in infrastructure investments. Opportunities like the Blackstone BESS with Octopus Australia diversify our investment portfolio, an important aspect in the delivery of sustainable long-term returns for our members and investors. Learn more about some of our work in this space.