A First Nations community has taken a long-term equity ownership in AMPYR’s Wellington Stage 1 Battery, in a market-first partnership that provides long-term benefit long after the battery’s completion.
The equity right gives Wambal Bila (a Wiradjuri word for mountain-river) the option to take a 5% equity stake in the battery project. Wambal Bila is a new community-led corporation led by Wiradjuri people accountable to its membership, which is open to the Wellington Aboriginal community.
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The equity arrangement has been developed between Wambal Bila and AMPYR Australia under a set of agreements between the parties, which see AMPYR Australia provide up to $300,000 to support Wambal Bila establish its initial operations.
The underlying equity stake includes both a right to a preferred, fixed annual return and a share of ongoing equity returns alongside other investors. Wambal Bila will invest revenue in the future of the Wellington Aboriginal community.
Wambal Bila and AMPYR Australia will also seek to agree to a similar equity stake in the Wellington Stage 2 BESS.
The arrangement is the first equity partnership in a developer-led project where the local First Nations community has no native title or related legal rights, or other pre-existing economic base.
For the energy industry, this sets a new precedent that could be extended to other renewable energy developments across Australia.
As part of this partnership, Wambal Bila and AMPYR Australia have agreed to rename the project as the Bulabul Battery. Bulabul means “two acting together” in Wiradjuri, representing the powerful partnership between the community and the project.
“The creation of Wambal Bila is a testament to a new era of partnership and empowerment within the energy sector,” Wambal Bila director Keiyana Guihot said.
“It ensures that the benefits of the Bulabul Battery project flow directly back to our community, enabling us to invest in our cultural heritage, create economic opportunities, and support the well-being of our people for generations to come. We believe this model will inspire similar collaborations across the industry.”
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“This is a major turning point for major energy projects. At AMPYR, we’re extremely proud to work alongside Wambal Bila to shift the focus from short-term regional construction jobs to empowering communities through long-term ownership and sustained benefit,” AMPYR Australia CEO Alex Wonhas said.
“We hope this sets a new industry standard that will soon become the norm for energy projects in Australia and beyond.”
