Renewables developer Ampyr Australia, owned by Singapore-based asset management group AGP Sustainable Real Assets, says it has reached financial close and signed the first offtake deal for its first grid-scale battery project in Australia.
Ampyr announced it has achieved financial close for the $340 million (USD 221 million) first stage of the Wellington battery energy storage system (BESS) project to be built about three kilometres northeast of the Wellington township in the central west of New South Wales (NSW).
The 300 MW / 600 MWh facility, located next to BJEI Australia’s existing Wellington and Wellington North solar farms, will connect to the National Electricity Market (NEM) via TransGrid’s nearby Wellington substation.
Ampyr Australia Chief Executive Officer Alex Wonhas said the project, that is expected to be followed by a 100 MW / 400 MWh second stage, is a crucial element in advancing the country’s energy storage capabilities and delivering on the company’s commitment to build more than 6 GWh of energy storage projects in Australia by 2030.
“Reaching the financial close of our first grid-scale BESS project in Australia marks a significant milestone in the acceleration of Australia’s energy transition,” he said.
“The Wellington stage 1 BESS will play a critical role in an increasingly renewable grid whilst boosting Australia’s energy storage capacity and supporting the delivery of low-cost energy to major users.”
Wonhas said construction of the project is expected to start within a few weeks, with energisation anticipated in late 2026, and the battery to commence full operations by early 2027.
Image: AMPYR Australia
The project will be delivered by United States-based Fluence Energy, using its Gridstack energy storage product. Fluence has also entered into a 20-year operational service contract to service and maintain the Wellington Stage 1 BESS, with revenues to be optimised by the company’s Mosaic and Nispera software platforms.
Ampyr said it has also signed a 10-year virtual battery offtake agreement with Adelaide-headquartered renewable energy gen-tailer Zen Energy for 150 MW of the stage one project’s capacity. The company said more offtake arrangements are expected to be added to the initial phase of the Wellington battery, and for the second stage of the project.
Zen Energy CEO Anthony Garnaut said the “virtual toll” offtake agreement will enable the company to firm its portfolio of sustainability-driven customers.
“Virtual tolling agreements signal a maturing of the renewable energy transition and deliver shared value for Zen Energy and Ampyr,” he said. “This is the first battery we have contracted in NSW, and our share of Wellington Stage 1 is big enough to double the size of the customer volume we serve.”
Financing for the Wellington Stage 1 BESS was led by a lender group including the Commonwealth Bank, HSBC, Rabobank, Bank of China, Societe Generale and United Overseas Bank.
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