US Giant BlackRock to Invest $1 Billion Into Australian Battery Projects

US Giant BlackRock to Invest $1 Billion Into Australian Battery Projects
The BlackRock logo outside of its offices in New York on Jan. 18, 2012. Shannon Stapleton/Reuters
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U.S. investment giant BlackRock will invest $1 billion (US$701 million) into Australian battery projects after agreeing to acquire Melbourne-based Akaysha Energy.

Akaysha currently has nine projects across the country, with the most advanced being its 300-megawatt Ulinda battery in the Western Downs region of Queensland.