AMPYR Australia and InCommodities sign 15 year battery storage agreement for the Bulabul BESS Project

SYDNEY, Australia, 27 November 2025 — AMPYR Australia has today announced 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. InCommodities and AMPYR have agreed to a partnership worth in excess of $300 million for up to 15 years across battery projects. This is InCommodities’ first long-term, 10+ year commitment in Australia.
The project’s developer, owner, and operator, 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 — one 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. Often the only option for long-term agreements were large incumbent retailers, who dominated the market and held 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 — a Danish financial intermediary with a strong global trading track record and high credit quality.

Located in Central West NSW, the Battery 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 to stabilise the grid as renewable penetration continues to grow.

The agreement involves an innovative Capacity Swap Agreement of up to 120 MW. It will leverage 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. With nearly 700 MW of power purchase agreements secured in 2025 and on track to reach a target of 1.5 GW by the end of 2026, InCommodities’ expansion highlights the accelerating momentum of new entrants and investment in clean energy solutions.

“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,” said Andrew Koscharsky, InCommodities Head of Power Trading for Australia and New Zealand.

“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,” said AMPYR Australia CEO Alex Wonhas.

About AMPYR Australia

AMPYR is a new independent power producer in Australia with global backing from AGP Sustainable Real Assets (AGP). AMPYR’s grid-scale battery projects offer innovative energy solutions, which are built from the ground up with customers in mind, to power Australia’s future industries. AMPYR’s energy solutions empower Australia’s future industries, like hyperscale datacentres, to decarbonise 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 Centre) and Real Estate. AGP has over 860 MW Data centre capacity under development and 13 GW of clean energy assets operating or under development globally.
For more information, visit our website, or follow us on LinkedIn.

About InCommodities

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, while embracing modern methods of energy trading.

InCommodities Australia is firmly on track to sign over 1.5 GW of long term PPAs across Solar, Wind and Battery assets by 2027, thus helping project owners underpin financial viability in Australia’s rapidly evolving and volatile energy market.

InCommodities offers a variety of risk management and trading solutions including Power Purchase Agreements, long term offtake solutions and other revenue-hedging structures, thus promoting additional investment in green energy assets.

Media contact
Melissa Iarocci
Email: Ampyr@slingstone.com
Phone: +61 452 663 095