AGP-backed Ampyr gets going on Wellington battery with A$340m financing
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Date published29.07.25
AMPYR Australia, part of AGP Sustainable Real Assets, has reached financial close on the 300 MW / 600 MWh Wellington Stage 1 battery energy storage system (BESS) in regional New South Wales.
The project is scheduled to be energised in 2026 and forms part of AMPYR’s broader pipeline to deliver more than 6 GWh of energy storage across Australia by 2030.
Fluence Energy will deliver the project using its Gridstack™ product and has signed a 20-year operational services agreement. Grid connection will be provided by Lumea via Transgrid’s 330 kV network.
The project includes a 10-year virtual offtake agreement with ZEN Energy for 150 MW of BESS capacity.
“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,” said Alex Wonhas, AMPYR Australia CEO.
Anthony Garnaut, ZEN Energy CEO, noted: “This is the first battery we have contracted in New South Wales, and our share of Wellington Stage 1 is big enough to double the size of the customer volume we serve.”
“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,” stated Jan Teichmann, Fluence APAC SVP & President.
“AGP is a sponsor of high-growth infrastructure platforms and is committed to investing in Australia’s energy transition,” added Brad Hopkins, AGP Partner.
“We will be engaging with our capital partners to fund the growth of the business through the remainder of 2025.”
Wellington Stage 1 will be followed by a second stage (100 MW / 400 MWh), bringing the site’s combined capacity to 1 GWh by 2027.
AMPYR Australia, part of AGP Sustainable Real Assets, has reached financial close on the 300 MW / 600 MWh Wellington Stage 1 battery energy storage system (BESS) in regional New South Wales.
The project is scheduled to be energised in 2026 and forms part of AMPYR’s broader pipeline to deliver more than 6 GWh of energy storage across Australia by 2030.
The A$340 million ($222 million) financing package is backed by a lender group comprising Commonwealth Bank of Australia, Bank of China, HSBC, Rabobank, Societe Generaleérale, and UOB.
Fluence Energy will deliver the project using its Gridstack™ product and has signed a 20-year operational services agreement. Grid connection will be provided by Lumea via Transgrid’s 330 kV network.
The project includes a 10-year virtual offtake agreement with ZEN Energy for 150 MW of BESS capacity.
“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,” said Alex Wonhas, AMPYR Australia CEO.
Anthony Garnaut, ZEN Energy CEO, noted: “This is the first battery we have contracted in New South Wales, and our share of Wellington Stage 1 is big enough to double the size of the customer volume we serve.”
“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,” stated Jan Teichmann, Fluence APAC SVP & President.
“AGP is a sponsor of high-growth infrastructure platforms and is committed to investing in Australia’s energy transition,” added Brad Hopkins, AGP Partner.
“We will be engaging with our capital partners to fund the growth of the business through the remainder of 2025.”
Wellington Stage 1 will be followed by a second stage (100 MW / 400 MWh), bringing the site’s combined capacity to 1 GWh by 2027.