InCommodities signs 15-year storage deal with AMPYR in Australia

AMPYR Australia has announced the signing of a 15-year energy storage agreement with Danish global energy trading firm InCommodities. The contract covers the Bulabul Battery Energy Storage System (BESS) located in Wellington, New South Wales. The partnership is valued at more than $300mn and spans multiple battery storage projects over a term of up to 15 years.

Unprecedented commitment in the Australian market

This marks InCommodities’ first long-term — more than 10 years — engagement in the Australian market. AMPYR Australia, the project’s developer, owner and operator, sees this entry as a lever to strengthen diversity in the National Electricity Market (NEM), historically dominated by a few large players. Long-term offtake agreements have been rare, often reserved for major incumbent retailers with significant market power.

The rise of battery storage, supported by public schemes such as the NSW Electricity Infrastructure Roadmap and the Capacity Investment Scheme (CIS), is allowing new financial intermediaries to enter the market. InCommodities, known for its financial strength and energy trading expertise, exemplifies this shift in the Australian energy landscape.

300 MW capacity to support grid stability

Located in the Central West NSW region, the Bulabul BESS will have a capacity of 300 MW and energy storage of 600 MWh. It will be able to power up to 300,000 homes for two hours during peak demand. The system will provide essential firming capacity to help stabilise the grid as renewable energy integration increases.

The agreement includes a Capacity Swap Agreement of up to 120 MW. InCommodities will contribute its experience in spot markets, energy technology, and global trading, while AMPYR will oversee asset management.

Reinforced investment momentum

The contract reflects the growing investment potential in the Australian storage sector. InCommodities has already secured nearly 700 MW in power purchase agreements (PPAs) in 2025 and aims to reach a total capacity of 1.5 GW by the end of 2026.

“We are making long-term commitments well beyond the market standard to increase wholesale competition and support developers like AMPYR,” said Andrew Koscharsky, Head of Power Trading for Australia and New Zealand at InCommodities.

“InCommodities’ large-scale entry into the battery and storage market is a significant step that reflects a structural change driven by more agile participants,” added Alex Wonhas, Chief Executive Officer of AMPYR Australia.