Recurrent Energy, the development arm of Canadian Solar, has sold its 275MWdc Gunning hybrid solar-plus-storage project in New South Wales, Australia, to an undisclosed European infrastructure and investment group.
The transaction involves a 275MWdc solar PV power plant paired with a 120MW battery energy storage system (BESS) located approximately one hour north of Canberra. Recurrent Energy was granted consent for the Gunning solar-plus-storage project in late November 2024.
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The Gunning Energy Park will connect to Australia’s National Electricity Market (NEM) through a Transgrid transmission line, positioning it to provide grid services and energy arbitrage opportunities within the NEM framework.
Ismael Guerrero, CEO of Recurrent Energy, emphasised the project’s role in advancing Australia’s energy transition.
“This milestone builds on our continued success in the country, highlights our ability to develop innovative, large-scale renewable energy projects, and marks an important step in advancing Australia’s transition to a cleaner and more reliable energy system,” Guerrero added.
Recurrent Energy announced the transaction earlier this week; however, the financial terms and the specific identity of the European buyer remain undisclosed. The sale represents another significant divestment for Recurrent Energy as the company continues its develop-and-divest strategy across the Australian renewable energy market.
One of the most substantial projects included in this develop-and-divest strategy is the 100MW/200MWh Mannum BESS in South Australia, which was sold to Australian energy infrastructure developer Epic Energy in 2024. It was commissioned in May 2025.
The transaction builds on Recurrent Energy’s expanding presence in Australia’s renewable energy sector. The company reached financial close on a 171MW solar-plus-storage site in Victoria late last year, demonstrating continued investor confidence in Australian hybrid projects.
The Carwarp Energy Park in Victoria represents another example of Recurrent Energy’s hybrid development approach, combining solar generation with co-located battery storage systems.
It should also be noted that the 150MW Carwarp project recently joined AEMO’s Market Management System. The registration with AEMO’s system represents a critical step in the commissioning process, indicating readiness for testing and grid integration activities.
The Australian renewable energy market has attracted substantial international investment as the country transitions away from coal-fired generation toward renewable energy sources.
Hybrid projects that combine solar and battery storage have garnered particular attention from infrastructure investors seeking long-term, stable returns from essential grid infrastructure.
As a result, numerous solar-plus-storage projects are being pursued nationwide. As reported by PV Tech in October, the New South Wales Independent Planning Commission approved Ark Energy’s 435MW Richmond Valley solar-plus-storage project, while Global Power Generation advanced its 290MW Fraser Coast development through Queensland’s environmental approval process.
