AMPYR Australia announced on November 27, 2025, the signing of a 15-year battery storage agreement with global energy trading company InCommodities for the Bulabul Battery Energy Storage System (BESS) in Wellington, New South Wales. The partnership is worth in excess of USD 300 million for up to 15 years across battery projects, marking InCommodities' first long-term, 10+ year commitment in Australia.

Project Specifications and Capacity

The Bulabul Battery is located in Central West NSW and is designed to charge from excess solar and discharge sufficient energy to power up to 300,000 homes for two hours during peak demand periods. The 300 MW/600 MWh system will provide essential firming capacity, helping stabilize the grid as renewable penetration continues to grow.

The agreement involves an innovative Capacity Swap Agreement of up to 120 MW, leveraging InCommodities' global trading, spot market, and energy-tech experience, along with AMPYR's asset management expertise. This commitment for up to 15 years highlights the increasing opportunities of battery storage in Australia's energy transition.

Market Impact and Competition

AMPYR Australia views InCommodities' entry as a catalyst for meaningful change in the Australian energy market. The partnership signals a pivotal shift toward a more diverse and competitive energy landscape that will ultimately help lower electricity prices for consumers. Historically, few financial intermediaries in the National Electricity Market (NEM) have engaged in long-term offtake agreements, with large incumbent retailers dominating the market and holding strong market power.

The rise of battery storage, supported by government initiatives such as the NSW Electricity Infrastructure Roadmap and the Capacity Investment Scheme (CIS), is now breaking that concentration of market power. Developers like AMPYR are leading this transition, creating opportunities for new, strong entrants such as InCommodities, described as a Danish financial intermediary with a strong global trading track record and high credit quality.

InCommodities' Australian Expansion

InCommodities has secured nearly 700 MW of power purchase agreements in 2025 and is on track to reach its 1.5 GW target by the end of 2026. The company's expansion highlights the accelerating momentum of new entrants and investment in clean energy solutions. InCommodities Australia is firmly on track to sign over 1.5 GW of long-term PPAs across Solar, Wind, and Battery assets by 2027.

Andrew Koscharsky, InCommodities Head of Power Trading for Australia and New Zealand, stated: “We've entered the Australian market with a vision of accelerating the domestic transition towards renewables. As a non-traditional global player, we are making long-term trading commitments, significantly beyond the two or three-year decisions typically made by existing traders, bringing a new identity to the market. This approach increases wholesale market competition to the benefit of the Australian consumer through long-term partnerships with developers like AMPYR Australia.”

Company Profiles and Future Plans

AMPYR is a new independent power producer in Australia with global backing from AGP Sustainable Real Assets (AGP). The company's grid-scale battery projects offer innovative energy solutions built from the ground up with customers in mind to power Australia's future industries. AMPYR's energy solutions empower Australia's future industries, such as hyperscale data centers, to decarbonize reliably and cost-effectively.

AMPYR is on track to deliver more than 6 GWh of grid-scale battery storage in strategic grid locations by 2030, providing up to 20% of Australia's future storage demand. AMPYR is part of AGP, an independent global investor and asset manager that owns, develops, and operates sustainable real assets across three core strategies: Energy, Digital Infrastructure (Data Center), and Real Estate. AGP has over 860 MW of data center capacity under development and 13 GW of clean energy assets operating or under development globally.

InCommodities has established a global energy trading presence, with offices strategically positioned across North America, Europe, and Asia-Pacific. The company operates across electricity, gas, and environmental products worldwide, with a strong focus on honesty and transparency and an embrace of modern energy trading methods. InCommodities offers a variety of risk management and trading solutions including Power Purchase Agreements, long-term offtake solutions and other revenue-hedging structures, promoting additional investment in green energy assets.

AMPYR Australia CEO Alex Wonhas commented: “InCommodities' entry at scale into the Australian battery and storage market is a welcome and significant development. It will enhance competition and drive better, more innovative outcomes for consumers. This shift is not only necessary, but it also reflects a fundamental shift in the structure of the energy market, driven by agile, market-shaping participants like InCommodities.”

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