Australia’s biggest battery player, Akaysha Energy, is telling potential bidders it expects earnings before interest, tax, depreciation and amortisation to shoot past $600 million by the end of 2029.Suitors this week were handed first-round financial modelling and an update on Akaysha’s pipeline as sell-side adviser Macquarie Capital opened the data room after several weeks of early investor meetings.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.
BlackRock’s Akaysha Energy forecasts $600m earnings as data room opens
It is the biggest battery M&A transaction in Australia’s history and comes as the US investment firm, which invested in August 2022, seeks to sell a stake.
TL;DRAI
Akaysha Energy, Australia's largest battery storage operator backed by BlackRock, projects EBITDA above $600M by end of 2029 as Macquarie Capital opens a data room for first-round M&A bidders. The deal signals major institutional capital consolidating grid-scale storage assets — a sector directly tied to data center power resilience and long-term energy cost planning for infrastructure-heavy organizations.
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