VH Global Sustainable Energy Opportunities (GSEO) has completed the construction and commissioning of its third solar and battery energy storage hybrid system in New South Wales, Australia. This achievement builds on two previously completed hybrid systems in the state, increasing the operational share of GSEO's portfolio to 69%, up from 61% in mid-2024.
The newly commissioned site integrates a solar photovoltaic (PV) system with a DC-coupled two-hour, 4.95-MW battery energy storage system (BESS). This combination enhances grid stability and provides effective energy storage, addressing critical needs within Australia's energy infrastructure.
GSEO's Australian energy transition programme now includes five operational assets, with two additional sites under construction. Upon completion in 2025, the programme will encompass seven assets with a combined capacity of 37 MW and 60 MWh, spread across New South Wales, Queensland, and South Australia.
The company continues to target an unlevered net asset value (NAV) return of 10%, net of fees, along with a progressive annual dividend per share. As of mid-2024, the dividend is covered at 1.1 times, with quarterly payments targeting 5.68p for the year ending December 31, 2024.
