Danish energy trading company InCommodities has signed a landmark $200 million long-term battery storage agreement with Vena Group for the Bellambi Heights Battery Energy Storage System (BESS) in Beryl, New South Wales.
The deal was announced during the Danish Royal State visit to Australia by Their Majesties, The King and Queen of Denmark, highlighting the deepening cooperation between the two nations in renewable energy and grid infrastructure.
The Danish sector brings expertise in energy risk management and trading as opposed to asset operations, which will greatly benefit accelerating future renewable projects in Australia.
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Once operational, the Bellambi Heights BESS will capture excess daytime solar generation to power 280,000 homes for approximately 2.5 hours during peak demand. Located in Central West New South Wales, the project will provide critical firming capacity for a region with high concentration of solar assets.
Under the Revenue Share Agreement, InCommodities is providing revenue certainty for Vena Group’s 204MW BESS project. This long-term commitment of approximately $200 million directly supports grid stability as New South Wales scales its renewable capacity. Construction of the battery is progressing, with initial energisation expected in late 2026 and full commercial operations by mid-2027.
InCommodities head of power trading for Australia and New Zealand Andrew Koscharsky said, “This partnership with Vena Group brings InCommodities’ total Australian investment commitment to nearly $500 million—a clear signal of our long-term commitment to the Australian energy market.
“Since 2024, we have delivered bankable risk-management solutions for nearly 700MW of renewable assets. Announcing this agreement during the Danish State Visit further underscores the growing alignment between Australia and Denmark in securing critical grid infrastructure.”
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Vena Energy head of Australia Owen Sela said, “Our partnership with InCommodities is a significant vote of confidence in Australia’s clean energy transition. By securing international investment, we are delivering the critical grid infrastructure needed to balance New South Wales’ growing renewable capacity.
“Projects like Bellambi Heights are essential to maintaining a reliable, modern network for households and businesses alike.”
