A utility-scale solar and battery storage developer has lodged a prospectus for an initial public offering expected to raise up to $600 million, in what would be the largest clean energy listing on the ASX since 2024.
The company operates a pipeline of grid-scale projects across New South Wales and Queensland, and plans to use proceeds to fund construction of several battery storage assets already under development approval.
Joint lead managers are targeting a listing before the end of the year, subject to market conditions, with cornerstone investor commitments already covering roughly a third of the raise.
“Investor appetite for firmed renewable earnings has held up even as broader IPO markets stay choppy,” one equity capital markets banker involved in the deal said.