Engie buys out Eku to achieve 100% ownership of Hazelwood BESS

French energy company Engie has acquired London-headquartered Eku Energy’s minority stake in Engie’s 150 MW / 150 MWh Hazelwood battery energy storage system in Victoria.

January 22, 2026 Ev Foley

Image: ENGIE

French energy company Engie has acquired London-headquartered Eku Energy’s minority stake in Engie’s 150 MW / 150 MWh Hazelwood Battery Energy Storage System (BESS), including the ongoing HBESS 2.0 project to build a second battery.

Acquisition of Eku’s 30% minority interest in the BESS plus its expansion, delivers 100% ownership of the Hazelwood BESS to Engie.

ENGIE Australia Managing Director of Renewables and Batteries Laura Caspari said full ownership of the Hazelwood Battery allows the company to progress expansion plans.

“This consolidates our commercialisation plans, including ongoing work to expand the battery capacity at the Hazelwood site,” Caspari said.

The operational Hazelwood BESS is located in the Latrobe Valley, Victoria, 161 kilometres east of Melbourne, and is both Engie’s first BESS in Australia and the first in the country to be built on the site of a former coal power station.

The Hazelwood BESS was officially opened on 14 June 2023 jointly funded and developed by Engie and Eku Energy, and was supplied by Fluence Energy, which operates, and maintains the facility.

Hazelwood BESS is the first project in Australia to use Fluence’s Gridstack energy storage product.

Victoria’s legislated energy storage targets are at least 2.6 GW of energy storage capacity by 2030, and at least 6.3 GW by 2035.

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