Danish pension provider P Plus has announced that it is investing in Australia's Waratah Super Battery, which acts as a buffer in the electricity grid and is expected to play an important role in the country's green transition.

The investment, which is in the double-digit millions, was made in collaboration with StepStone Infrastructure and Real Assets.

The Waratah Super Battery consists of 3,500 smaller batteries that will act as a buffer for the electricity grid in the Australian state of New South Wales, and is expected to help create stability and reduce the risk of power outages, in order to create greater safety in emergency situations.

In addition to the climate benefits, P+ head of alternative investments, Michael Dalsgaard, highlighted the investment as a demonstration of the group's focus on infrastructure.

"Through Stepstone Group, we have gained access to investments in energy transition and digital infrastructure through their collaboration with other top managers in the areas," Dalsgaard, stated.

The battery also makes it possible to connect more solar and wind power to the electricity grid because it can handle fluctuations in production, of which there are many in Australia.

This is also expected to mean that there will be less need to keep fossil backup plants in operation, as well as potentially helping to create lower energy prices.

The project was commissioned by the state of New South Wales and is delivered and operated by Akaysha Energy.

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