Akaysha Energy signs agreement with Gunvor for a BESS in Queensland

Akaysha Energy has signed a long-term purchase agreement with Gunvor Group for a 205 MW/410 MWh battery energy storage system (BESS) in Brendale, Queensland. This partnership aims to ensure revenue stability and optimise project operations.

Share:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Akaysha Energy, a specialist in large-scale battery energy storage systems, has signed a long-term purchase agreement with Gunvor Group, a major player in energy trading. This contract concerns the Brendale battery energy storage system (BESS) project in Queensland. Currently under construction, this 205 MW/410 MWh infrastructure is expected to be operational between early and mid-2026.

A key project for grid stability

Located in the northern suburbs of Brisbane, the Brendale BESS will be capable of storing and redistributing electricity from excess solar production. Its capacity will allow it to power up to 200,000 homes for two hours. The project will integrate grid-forming technology to stabilise voltage within Queensland’s major transmission infrastructure.

The signed agreement is based on a “Battery Revenue Swap Agreement” mechanism, ensuring financial stability for Akaysha Energy while maintaining the flexibility required to adjust operations based on market signals.

An expanding portfolio

This agreement marks Akaysha Energy’s third over-the-counter contract, reinforcing its strategy of optimising project profitability. It follows a A$650 million debt financing secured from a syndicate of eleven banks to fund the construction of its 1,660 MWh BESS in Orana. This project is complemented by a 12-year, 200 MW virtual purchase agreement with EnergyAustralia.

In July 2023, Akaysha Energy also finalised a battery revenue swap agreement with Re2 Capital for its 150 MW BESS in Ulinda Park, in Queensland’s Western Downs. With this latest transaction with Gunvor, Akaysha Energy’s total contracted capacity across its four assets under construction now exceeds 1.6 GW.

A favourable market dynamic

The agreement highlights the growing profitability of large-scale batteries and their ability to generate revenues through wholesale market pricing, which is expected to accelerate the deployment of energy storage infrastructure in Australia.

Paul Curnow, Managing Director and Chief Commercial Officer at Akaysha Energy, stated: “This agreement with Gunvor highlights the increasing sophistication of financial products Akaysha is developing with its partners to support Australia’s evolving energy landscape. The partnership ensures revenue certainty for the Brendale BESS while maintaining the flexibility needed to adapt to market dynamics.”

David Maher, Head of APAC Power Trading & Origination at Gunvor, added: “This partnership will be a key component of Gunvor’s Asia-Pacific strategy as we strengthen our commitment to the energy transition and risk management. This agreement illustrates the growing importance of batteries in delivering flexible and reliable energy solutions.”

Following its acquisition of Northvolt’s assets, US-based Lyten has appointed several former executives of the Swedish battery maker to key roles to restart production in Europe.
US-based contractor TruGrid has completed three battery installations in Texas ahead of schedule and within budget, despite weather disruptions and logistical challenges that typically impact such projects.
GazelEnergie plans to build a data center at its coal-fired plant in Saint-Avold, with commissioning expected in 2028 and a capacity of 300 MW.
Ormat Technologies has begun commercial operation of its new energy storage facility in Texas, alongside a seven-year tolling agreement and a hybrid tax equity deal with Morgan Stanley Renewables.
German grid operators face a surge in battery storage connection requests, driven by a flawed approval process.
TWAICE will equip four energy storage sites in Southern California with its analytics platform, supporting operator Fullmark Energy in CAISO market compliance and performance optimisation.
CATL unveiled in São Paulo its new 9MWh TENER Stack system, designed for the South American market, responding to rising demand for energy storage driven by the growth of renewable energy.
EdgeConneX has acquired a second site in the Osaka region, bringing its total capacity to 350MW to support the growth of the Cloud and AI market in Japan.
Driven by grid flexibility demand and utility investments, the global containerized BESS market will grow at an annual rate of 20.9% through 2030.
The American battery materials manufacturer, Group14, finalizes a $463 million fundraising round and acquires full ownership of its South Korean joint venture from conglomerate SK Inc.
Energy Plug Technologies partnered with GGVentures to deliver three energy storage systems to the U.S. construction sector, marking its first commercial breakthrough in this strategic market.
HD Renewable Energy has completed the connection of its Helios storage system to the Hokkaido grid. The 50 MW project is expected to enter commercial operation by the end of 2025, targeting multiple segments of the Japanese electricity market.
Ingeteam partners with JinkoSolar and ACLE Services to equip seven sites in Australia, representing a total capacity of 35 MW and 70 MWh of energy storage.
Copenhagen Infrastructure Partners has acquired from EDF power solutions North America the Beehive project, a 1 gigawatt-hour battery storage facility located in Arizona.
Developer Acen Australia has submitted a battery storage project to the federal government, targeting 440MW/1,760MWh in a region near solar and mining infrastructure in Queensland.
Google invests in Italy’s Energy Dome to deploy in Oman a long-duration CO₂-based storage solution, in partnership with Takhzeen Oman and the sovereign wealth fund Oman Investment Authority.
Zeo Energy has completed the acquisition of Heliogen, creating a new division dedicated to long-duration energy generation and storage for commercial and industrial markets.
Entech will deliver a 20 MWh battery storage system in Loire-Atlantique under an agreement that includes a twenty-year maintenance contract.
Portland General Electric inaugurates three new battery energy storage sites, strengthening available capacity in the Portland metropolitan area by 475 MW and supporting growing demand while stabilising costs.
Tesla retains the top position in the global battery storage market, but Sungrow moves within one point, revealing intensifying rivalries and a rapid reshaping of regional dynamics in 2024.

Log in to read this article

You'll also have access to a selection of our best content.