Akaysha Energy has signed a long term offtake agreement for its Brendale battery energy storage System (BESS) in Queensland, in what it describes as a “sophisticated” deal with global commodities trader Gunvor Group.
The 205 megawatt (MW) and 410 megawatt-hour (two-hour) Brendale BESS is currently under construction next to the South Pine substation in the northern suburbs of Brisbane, and is on track to be one of the largest in Queensland, once completed in 2026.
Akaysha said on Friday that the “risk-hedging offtake” it has struck for Brendale, known as a Battery Revenue Swap Agreement, provides revenue certainty for the project while allowing Akaysha to optimise operations and respond to market signals.
“This offtake with Gunvor highlights the growing sophistication of financial products Akaysha is developing with its partners to support Australia’s evolving energy landscape,” Akaysha’s managing director and chief commercial officer Paul Curnow said on Friday.
“The partnership ensures revenue certainty for Brendale BESS while preserving the flexibility needed to adapt to market dynamics.
“It’s an essential step in advancing large-scale battery projects like ours, which are critical for strengthening grid stability, ensuring long-term reliability, and supporting the transition as coal-fired power stations retire.”
Akaysha says the deal also demonstrates the economic viability of large-scale batteries, showing they can deliver appropriate returns through wholesale market pricing and, thus, underpinning further investment.
Akaysha, backed by global funds giant Blackrock, now has four big battery projects under construction, including the 850 MW, 1680 MWh Waratah Super Battery in NSW, and the 415 MW, 1660 MWh Orana battery, also in NSW, and the 150 MW, 300 MWh Ulinda Park battery in Queensland.
Brendale is expected to be complete in 2026 and will feature Tesla Megapack technology. It will provide both energy arbitrage and frequency control ancillary services and Akaysha says it will facilitate the integration of solar and wind projects by leveraging existing transmission infrastructure in the region.
David Maher, the head of APAC power trading and origination at Gunvor says the deal points to the growing opportunity in Australia’s energy market and the role global partners can play supporting the transition.
“This partnership will be an important part of Gunvor’s APAC strategy as we expand our involvement in the energy transition and provide risk management services,” Maher said on Friday.
“This landmark Agreement reflects the growing role of batteries in delivering much needed flexible and reliable energy solutions. We look forward to furthering our commitment to innovative, sustainable energy solutions.”
See also Renew Economy’s Big Battery Storage Map of Australia for more information.
