Westpac Institutional Bank

Akaysha’s #Orana Battery Energy Storage System (BESS) is set to the be the largest utility scale (4 hour) battery in Australia’s National Electricity Market at 415MW / 1,660MWh and will be one of the largest 4-hour batteries globally. Congratulations to the Akaysha Energy team for achieving financial close on the project, which will fund the construction and operations near Wellington, NSW. Westpac Institutional Bank is immensely proud to support Akaysha Energy and to be one of the key financiers of Orana BESS.   Congratulations Akaysha team – Nick Carter, Andrew Wegman, Tony Fullelove, Paul Curnow, Jack Prentice Congratulations BlackRock team – Charlie Reid, Evelyn Zheng Congratulations Westpac team – James Sanguinetti, Kent Zheng, Kevin Lu, Hayden Salau, Jessica Qin Li, Bruna Paiva Mazziotti, Jon Pooley   Nell Hutton, Alastair Welsh, David Scrivener, Greg Clark, Jason Tranter, Shar Kangatharan, CFA   https://lnkd.in/gYhdsvmb

We’ve launched Dynamic Virtual Cards for Westpac’s institutional, corporate and government customers. By enabling fast and secure ‘tap and go’ payments, we’re giving our clients greater control and transparency of spending while removing unnecessary administrative complexity. Commenting on the news, Jeffrey Byrne, Managing Director, Global Transaction Services said: “Organisations using these cards will be able to tailor parameters for each card in the way they see fit, including by choosing who can use the card, where the card can be used, how much can be spent, how often it can be used and for how long. Potential use cases for this digital solution are extensive and can range, for example, from a school using it to replace petty cash for daily incidental expenses, to a large corporate organisation hosting a conference or event and providing digital virtual cards to speakers or delegates as a cash alternative to cover their travel and related expenses.” If you’re interested, contact your Client Development Manager. Peter King Nell Hutton Alastair Welsh Full article: https://lnkd.in/gEME_DtC

Consumer sentiment fell in July and is very low says #Westpac chief economist Luci Ellis. One of the reasons for this is that 60% of people expect interest rates to rise again. But how likely is that, really? #rba #consumer #inflation

European debt growth has accelerated since 2021, raising financial stability concerns says #Westpac economist Illiana Jain. Despite low interest costs, reforms are necessary to control deficits. Full article: https://lnkd.in/gmFxkTfr #EuropeanEconomy #WestpacIQ

We’re feeling pretty chuffed to be recognised by our clients in the 2024 KangaNews Fixed Income Trading and Research Poll. Congratulations to our hard-working team of economists, strategists, and the trading and sales teams!   https://lnkd.in/gqmNQVj6 Peter King | Nell Hutton | Luci Ellis | Max Bulloch | Jeffrey Byrne | Alastair Welsh | Martin Whetton | William Manfield | Michael Lucas #kanganewsawards #fixedincometrading #westpaceconomics

“As a Service Associate in the Global Transaction Services (GTS) team, I had numerous opportunities to develop and enhance my skills. Working within the Client Service Team and overseeing various industries has equipped me to manage daily operational and transactional enquiries for all Westpac Institutional Bank clients. That role also allowed me to collaborate closely with team members and I gained valuable insights that assisted in my career progression. In 2024, I was fortunate to be promoted to Senior Associate, a testament to the growth opportunities at Westpac. After 14 years with the organisation, I can confidently affirm that Westpac is an excellent place to work, offering an abundance of opportunities for learning, growth and sharing my experience with colleagues.” Are you ready for a new opportunity? https://lnkd.in/gz8QVCkd #careers #westpacinstitutionalbank #wib Josephine Roumanous Murray Wilson Steven Rudd Peta O'Brien Jeffrey Byrne Nell Hutton

Golden Plains Wind Farm is set to be Australia’s largest #windfarm, comprising 215 turbines generating an installed capacity of more than 1,333MW, which are expected to deliver 9% of Victoria’s #energy when completed in mid-2027.   Congratulations to the TagEnergy team for recently achieving Stage 2 financial close as well as completing additional financing support for Stage 1. Westpac is immensely proud to support both stages of the project, and to be the largest commercial financier to the combined Golden Plains WF Stages 1 & 2.    https://lnkd.in/dHrG66DY   #renewableenergy #projectfinance #energytransition   Congratulations TagEnergy Team - Damien Bonnamy Franck Woitiez Audrey Teo Andrew Riggs Sean Rush Simon Clifton Congratulations Westpac Team - Jon Pooley Sub Mukherjee Alice Wang Peng Tang Stephen Holden Pauline Johnston Bruna Paiva Mazziotti Deshan De Silva Michael Herlihy Pranoy Modi Andrew White Liam McElduff    Nell Hutton Alastair Welsh David Scrivener Greg Clark Jason Tranter Shar Kangatharan, CFA Michael Williams

In June's #ESG Impact, there are several roadmaps to follow, with the Federal Government outlining its courses of action on sustainable finance and decarbonising the transport sector. We also report on the progress of zero-emissions haulage, a groundbreaking new electricity deal for a New Zealand aluminium smelter, how sustainable snake meat may boost food security, and more. Full article: https://lnkd.in/g3XjiErA Philippa Sjoquist Betty Song Meaghan van der Bergh

Consumer sentiment ticked up slightly in June but remained around the deeply pessimistic levels that have prevailed for two years now. Where there were improvements, around budget and tax measures providing a little more support to incomes, these were mostly negated by increased concerns about persistent high inflation and the interest rate outlook. Good news remains in short supply for consumers but that could change if inflation shows more decisive signs of slowing in coming months. Watch the full video from Matthew Hassan, #Westpac economics. #consumersentiment #interestrates #inflation

The Westpac–Melbourne Institute Consumer Sentiment Index rose 1.7% to 83.6 in June from 82.2. Despite the improvement, #consumer sentiment remains below its March level and still firmly in deeply pessimistic territory, says #Westpac economist Matthew Hassan. At 83.6, the Index remains well below the ‘neutral’ level of 100, meaning pessimists outnumber optimists by nearly 20ppts. The survey detail suggests positives from fiscal support measures are being negated by increased concerns about #inflation and the outlook for interest #rates. Full article: https://lnkd.in/dtrbddyF