Additionally, AMPYR Australia has recently raised A$340 million of institutional capital—about $221 million—for its endeavors. This monumental investment will help them realize their ambitious $Wellington Stage 1 BESS project. This program has an impressive full capacity of 300 megawatts and 600 megawatt hours (MWh). It will enormously increase the dispatchable supply of renewable energy across Australia. Set to be operational by 2026, this $2 billion project is one of the most important steps forward for Australia’s energy transition.
Wellington is well placed in regional New South Wales (NSW) to be a pioneer of progressive change. It’s supposed to strengthen the availability of affordable clean energy and at the same time lower the cost of electricity for new industries locating there. This initiative furthers AMPYR’s ambitious goal in a big way. We have a loosely defined goal of providing over 6 GWh (GigaWatt hours) of energy storage projects by the year 2030.
Commitment to Renewable Energy
AMPYR’s CEO, Alex Wonhas, said he was delighted with the financial closing of this important project.
“Reaching the financial close of our first grid-scale BESS project in Australia marks a significant milestone in the acceleration of Australia’s energy transition.” – Alex Wonhas, AMPYR Australia CEO
The funding package was endorsed by a number of banks with strong support from the following legal advisers Herbert Smith Freehills Kramer. AMPYR has already locked in a ten-year VPPPA, or virtual power purchase agreement, with wholesale energy retailer ZEN Energy Retail. This new agreement will enable 150MW of that project’s production to supply New York’s demand.
As a market leader in advanced energy storage solutions, Fluence is the global driving force behind the potential of energy storage. They’ll be integral to creating the Wellington Stage 1 BESS.
“We are thrilled to be partnering with AMPYR on the Wellington Stage 1 BESS, marking another step forward in strengthening Australia’s transition to a more sustainable energy future.” – Jan Teichmann, Fluence APAC senior vice-president and president
Community Engagement and Future Development
AMPYR Australia is currently consulting with Aboriginal communities local to Wellington. They are getting smart about the investment opportunities that fit their sustainable and often dollar-saving projects. This community-focused approach reflects AMPYR’s commitment to local partnerships as a central aspect of its renewable energy projects.
Curious as to what other exciting ambitions the company may have for the Wellington project! Stage 2 will increase capacity by another 100MW and 400MWh, to a goal of 1GWh by 2027. This expansion will go a long way to making renewable energy much more reliable and available across the region.
Lumea will interconnect to Transgrid’s 330kV network at Wellington. By engaging these staff early, you can help ensure the BESS will integrate seamlessly into the electrical infrastructure already in place.
Looking Ahead
AMPYR’s efforts in securing substantial funding and forming strategic partnerships mark a pivotal moment in Australia’s renewable energy landscape. The new Wellington Stage 1 BESS project will improve energy reliability. It wants to reduce building outlays for start-up sectors. The project is currently under preliminary engineering, expected to go to construction in 2026. It’s a great example of AMPYR’s commitment to leading Australia’s transition to a decarbonized, distributed and digitized energy future.