Vena Group has signed a long-term battery storage agreement with Danish energy trading company InCommodities for the Bellambi Heights Battery Energy Storage System in New South Wales, Australia, in a deal valued at approximately A$200 million, or about $141.5 million.
The agreement covers a 204 megawatt battery energy storage system project and is structured as a revenue share arrangement, under which InCommodities will provide revenue certainty for the development. The project is located in Central West New South Wales, a region with significant existing and planned solar generation, and is expected to play a key role in supporting grid stability as renewable energy capacity expands.
Construction of the battery is already underway, with initial energisation expected in late 2026 and full commercial operations targeted for mid 2027. Once operational, the facility will store excess solar energy generated during the day and discharge electricity during peak demand periods, with the capacity to supply power equivalent to the consumption of around 280,000 homes for approximately two and a half hours.
The deal was signed during the Danish Royal State Visit to Australia, highlighting growing cooperation between Denmark and Australia in renewable energy investment and grid infrastructure. The agreement also reflects InCommodities’ continued expansion in the Australian market, where it has focused on providing long-term offtake and risk management solutions across renewable and storage assets since entering the country in 2024.
The Bellambi Heights project is expected to provide critical firming capacity to balance intermittent renewable generation, supporting the reliability of the electricity network as Australia accelerates its transition toward cleaner energy sources.
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“This deal with Vena Group brings InCommodities’ total Australian investment commitment to nearly $500 million and reflects our long-term commitment to the Australian energy market. Since entering Australia in 2024, we have focused on providing bankable offtake and risk-management solutions across nearly 700MW of solar, wind, and battery assets. Announcing this agreement during the Danish State Visit underscores the growing alignment between Australia and Denmark on renewable investment and critical grid infrastructure.”
Andrew Koscharsky, Head Of Power Trading For Australia And New Zealand At InCommodities
“We are pleased to be working with InCommodities on this long-term partnership. This agreement represents a significant vote of confidence in Australia’s clean energy transition and demonstrates the crucial role that international investment plays in building the grid infrastructure we need for the future. The Bellambi Heights BESS will provide critical grid stability in New South Wales, helping to balance supply and demand as renewable generation continues to scale across the region. Projects like this are essential to ensuring we can integrate more renewable energy into the network while maintaining the reliability that households and businesses depend on.”
Owen Sela, Head Of Australia At Vena Energy
