Danish energy trading company InCommodities has entered into a long-term agreement with Vena Group for the Bellambi Heights battery project in New South Wales, Australia. The agreement is worth 200 million dollars (approximately 1.4 billion DKK) and includes a 204 MW battery plant that will provide capacity to an electricity grid with an increasing share of solar energy. This is stated by InCommodities in a press release.
The battery will store excess solar production during the day and provide power during peak load periods. The plant will be built in an area with a high concentration of solar energy and will contribute to stabilizing the electricity grid. The first part of the project is expected to be commissioned in late 2026, while full operation is expected in mid-2027.
Through the agreement, InCommodities will provide trading and risk management that will ensure more stable and predictable revenues from the battery and thus support the financing of the project.
- This partnership with Vena Group brings InCommodities' total Australian investment commitment to almost 500 million dollar – a clear signal of our long-term commitment to the Australian energy market. Since 2024, we have provided bankable risk management solutions for almost 700 MW of renewable assets,” says Andrew Koscharsky, Head of Power Trading Australia and New Zealand at InCommodities.
With the agreement, InCommodities has now committed to almost 700 MW of solar, wind and battery capacity in Australia through long-term trading and off-take agreements. The company also aims to enter into PPAs equivalent to 2 GW by 2028.
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