Gilbert + Tobin has advised Deutsche Bank AG, Sydney Branch on the financing of the Mokoan hybrid solar and battery project, sponsored by European Energy, which reached financial close on 8 July 2026.
The financing supports the refinancing of the existing 58MW solar farm and the development, construction, integration and long-term operation of an 80 MWh (2 hour) battery storage system located in northern Victoria. The project is supported by long-term solar and battery offtake arrangements with Amazon Australia and a government-backed support mechanisms through the Capacity Investment Scheme (CIS).
Mokoan is a significant project for European Energy and the Australian renewables market. It reflects growing lender confidence in hybrid renewable energy projects, as sponsors, financiers and offtakers continue to navigate a complex and evolving market for integrated generation and storage assets.
G+T’s cross practice energy, tax and finance teams advised Deutsche Bank on all aspects of the refinancing, battery development and project financing.
The G+T team was led by Energy, Resources and Infrastructure Partner Jamie Guthrie, with support from partner Matthew Charman and lawyers Alex Bird and Jason Yu and graduate Marshall Heller.
Mokoan is a strong example of how established solar assets can be enhanced with battery storage to optimise and reshape the facilities’ generation profile against the backdrop of an increasingly competitive and challenging market. The financing required careful structuring across the solar refinancing, battery development and integration, long-term offtake arrangements and CIS support. We are pleased to have advised Deutsche Bank on a transaction that demonstrates the continued evolution of Australia’s renewable energy financing market and the increasing bankability of hybrid generation and storage projects.
Mokoan is the third solar and BESS hybrid project on which G+T has advised that has recently reached financial close, building on our experience on the Winton solar and BESS project and the Palau solar and BESS project.
