The refinancing process involved 11 financial institutions, including ING Bank, Westpac Banking Corporation, MUFG Bank, Société Générale, Norddeutsche Landesbank Girozentrale, Mizuho Bank, Intesa Sanpaolo, United Overseas Bank, Clean Energy Finance Corporation, China Construction Bank and Agricultural Bank of China. These institutions are now supporting the financing of Terang BESS. The project also receives AUD 7 million in funding for the installation of new grid-forming inverters, granted as part of the second round of the Victoria Government's Energy Innovation Fund (EIF) to meet the target of 50% renewable energy by 2030.