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HMC Capital Secures Capacity Investment Scheme Backing for Victoria Project

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HMC Capital's (ASX:HMC) Moorabool battery energy storage system project has secured a Capacity Investment Scheme agreement, providing long-term revenue certainty, reducing project risk, and supporting financing ahead of a targeted final investment decision (FID), according to a Thursday Australian bourse filing.

The 300 megawatt four-hour battery near Geelong in Victoria, located alongside the operational Victorian Big Battery, is part of an around 5.7 gigawatt development pipeline, with around 2 gigawatts expected to reach FID within 12 to 18 months, per the filing.

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