Ashurst advises Vena Group on $200 million long-term battery deal with InCommodities

Global law firm Ashurst has advised Vena Group, a leading green solutions provider across the Asia-Pacific region, on a Revenue Share Agreement with Danish energy trading company InCommodities for the Bellambi Heights Battery Energy Storage System (BESS) in Central West New South Wales, Australia.

The agreement, valued at approximately $200 million, was formalised during the Danish Royal State Visit to Australia by Their Majesties The King and Queen of Denmark, which focused on strengthening cooperation and long-term Danish investment in Australia’s renewable energy and grid infrastructure.

Under the agreement, InCommodities provides revenue certainty for the development of a 204MW BESS, allowing Vena Group to maintain operational control while managing market risk.

Construction of the battery is progressing, with initial energisation expected in late 2026 and full commercial operations by mid-2027.

Ashurst has previously acted for Vena Group and its renewable energy arm, Vena Energy, on its portfolio of Australian projects, including Wandoan Solar, Tailem Bend II Hybrid and Wandoan South BESS.

The Ashurst team was led by partner Dale Gill, who was assisted by lawyer Carl Franzmann (Projects & Energy transition).