Allens has advised the Australian arm of global energy company ENGIE on a virtual battery offtake agreement with Neoen Australia for its Victorian Big Battery (VBB).
This is the first deal of this nature that ENGIE has signed in Australia and will enable it to replicate the functions of a grid-scale battery, using Neoen's custom software to allow for virtual charge and discharge of 40 MW of VBB's capacity at any time. This complements ENGIE's 150 MW/ 150 MWh Hazelwood Battery Energy Storage System, on which Allens also advised.
'Working with Engie on this cutting-edge virtual battery agreement has been an incredible opportunity. It reinforces our role as pioneers in the offtake market and our commitment to delivering innovative solutions for our clients,' said Partner Danielle Jones.
This work builds on Allens' extensive expertise in renewable energy and battery energy storage systems, including advising Akaysha Energy on its Orana Battery Energy Storage System, ZEN Energy on a solar power purchase agreement from a hybrid facility and the lenders on Templers Battery Energy Storage System.
