AMPYR Australia has signed a 15-year battery storage agreement with global energy trading company InCommodities for the Bulabul Battery Energy Storage System (BESS) in Wellington, New South Wales.
The two companies agreed to a partnership amounting to more than AU$300 million for up to 15 years across battery projects. This also marks InCommodities’ first long-term commitment in Australia.
The agreement involves an innovative capacity swap agreement for up to 120MW of Bulabul’s capacity. It will leverage InCommodities’ global trading, spot market and energy-tech experience along with AMPYR’s asset management expertise.
AMPYR CEO Alex Wonhas said the partnership will enhance competition and drive more innovative outcomes for customers.
“This shift is not only necessary, but it also reflects a fundamental shift in the structure of the energy market, driven by agile, market-shaping participants like InCommodities,” Wonhas said.
The Bulabul BESS is designed to charge from excess solar and discharge sufficient energy to power up to 300,000 homes for two hours during peak periods.
The 15-year commitment highlights the increasing opportunities of battery storage in Australia’s energy transition and the accelerating momentum of new entrants in clean energy solutions.
Andrew Koscharsky, InCommodities Head of Power Trading for Australia and New Zealand, said the company entered the Australian market to accelerate the domestic transition towards renewables.
“As a non-traditional global player, we are making long-term trading commitments, significantly beyond the two or three-year decisions typically made by existing traders, bringing a new identity to the market,” Koscharsky said.
“This approach increases wholesale market competition to the benefit of the Australian consumer through long-term partnerships with developers like AMPYR Australia.”
InCommodities Australia is firmly on track to sign over 1.5 GW of long-term power purchase agreements across solar, wind and battery assets by 2027, thus helping project owners underpin financial viability in Australia’s rapidly evolving and volatile energy market.