Global energy trading firm InCommodities has reached a long-term revenue share agreement with Vena Group in relation to the Bellambi Heights Battery Energy Storage System, a transaction valued at approximately $200 million.
The seven-year agreement provides revenue certainty for the 204MW Bellambi Heights battery project in New South Wales. The project will store excess solar generation and release it during peak demand periods, supporting flexible capacity for approximately 280,000 homes.
The transaction also supports the project’s commercialisation through a structured revenue share model and marks a further expansion of InCommodities’ presence in the Asia-Pacific energy market.
The team was led by Partner Josh Thorneycroft, supported by Senior Associate Aditya Shivam.
Commenting on the transaction, Josh Thorneycroft said:
“We are delighted to have assisted InCommodities on another market-leading storage arrangement. This agreement highlights the role that non-traditional players play in supporting the transition to renewables in the National Electricity Market (NEM) and the way in which risk management products can be used to assist market participants with unlocking value and managing risks associated with operating projects in the NEM.”
This transaction further demonstrates our capability in advising on complex and innovative wholesale energy arrangements and supporting global energy market participants on strategic transactions in Australia’s rapidly evolving energy sector.
