Akaysha Energy

What Akaysha Energy does

Akaysha Energy Pty Ltd is an Australian-headquartered, BlackRock-backed utility-scale battery energy storage system (BESS) developer and long-term asset owner, founded in 2021 and operating from Cremorne (VIC) and Sydney (NSW). The company originates, develops, finances, owns and operates grid-scale BESS assets across the Australian National Electricity Market (NEM), with an operational fleet of approximately 2 GW across five batteries and a development pipeline of approximately 10 GW spanning NSW, VIC, QLD, SA and TAS. Flagship assets include the 850 MW/1,680 MWh Waratah Super Battery (the largest in the Southern Hemisphere, delivering grid stability under a SIPS contract with EnergyCo NSW), the 311 MW/1,244 MWh Elaine BESS in Victoria (under construction), the Orana, Ulinda Park, Brendale, Glenrowan, Mobilong, Brinkworth, Wurdong, Palmerston, Connewarren, Deer Park, Kilnacroft Creek, Murray Terminal and Oaky Creek (Halys) projects, as well as the Mayfield Energy Precinct that co-locates up to 2 GW/8 GWh of BESS with a 1 GW data centre campus in partnership with Malabar Resources.

The technology stack is multi-vendor and vendor-supplied: Tesla Megapacks (Elaine), Powin Energy (Waratah) and Hitachi Energy power conversion systems (52 converters at Ulinda Park under a 20-year service agreement). There is no public evidence of proprietary AI or software IP. Asset lifecycles are designed for 20-25 years, and projects participate in the NEM for energy arbitrage, FCAS and SIPS grid services.

Revenue is generated from four streams: (1) wholesale electricity market trading and energy arbitrage in the NEM, (2) FCAS and SIPS grid stability service contracts, (3) long-term government capacity contracts awarded under the federal Capacity Investment Scheme (CIS) and state-level mechanisms such as South Australia's FERM (e.g., 700 MW SIPS contract with EnergyCo NSW), and (4) structured financial arrangements including revenue swap deals (Re2 for Ulinda Park). Capital is sourced through a mix of BlackRock equity, multi-bank project finance syndicates (A$460M eight-bank facility for Elaine, prior A$440M facility from July 2024) and a A$300M multi-currency corporate debt facility. Distribution is direct and vertical — no third-party resellers — with international expansion into Germany (via Copenhagen Energy, 2.6 GW pipeline), Japan and the US executed through local development partnerships.

Name

Akaysha Energy

Legal name

Akaysha Energy Pty Ltd

Website

https://akayshaenergy.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Akaysha Energy is an Australian, BlackRock-backed utility-scale battery energy storage developer and asset owner operating ~2 GW across five BESS sites in the NEM with a ~10 GW pipeline across Australia, Germany, Japan and the US, serving government counterparties and wholesale electricity markets via long-term contracts and merchant trading.

Ownership category

akta.pro rank

Product category

Utility-Scale Battery Energy Storage

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Electric Services (4911), Motors & Generators (3621)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage) (EUAFAAAL), BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), BESS EPC, Integration & Commissioning (EUAFAAAB)

Keywords

• Utility-scale battery storage
• Grid energy storage
• Renewable integration services
• Frequency control ancillary services
• Energy arbitrage

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales

Revenue model

1. Wholesale electricity market trading (energy arbitrage): Akaysha charges and discharges its BESS assets to capture price spreads in the National Electricity Market (NEM), generating revenue from energy arbitrage.
2. FCAS and grid stability services: Participation in Frequency Control Ancillary Services (FCAS) markets and System Integrity Protection Scheme (SIPS) contracts (e.g., 700 MW at Waratah Super Battery) for grid stability services.
3. Government / capacity contract revenue: Long-term contracted revenue from the Energy Corporation of NSW (EnergyCo NSW) for Waratah Super Battery, and revenue from capacity contracts awarded under the federal Capacity Investment Scheme (CIS) tenders.
4. Revenue swap arrangements: Structured revenue swap deals (e.g., with Re2 for Ulinda Park BESS) that monetise merchant trading exposure ahead of final investment decision.
5. Project finance and corporate debt facilities: Capital structure underpinned by AU$300M three-year multi-currency corporate debt facility (Sep 2025), AU$460M Elaine construction financing (Nov 2025) from an 8-bank syndicate, and additional project finance facilities for individual assets.

Go-to-market motion4 records

Distribution channels4 records

Marketing channels6 records

Core offering

Akaysha Energy is a vertically integrated utility-scale Battery Energy Storage System (BESS) developer and asset owner. The company originates, develops, finances, owns, and operates grid-scale battery storage projects that participate in Australia's National Electricity Market (NEM) for energy arbitrage, FCAS, and SIPS grid stability services, while also supplying dispatchable capacity under long-term contracts to government counterparties. It operates approximately 2 GW across five batteries with a ~10 GW development pipeline across Australia, Germany, the US, and Japan.

Product overview

Akaysha Energy is an Australian-headquartered utility-scale battery energy storage system (BESS) developer and asset owner, operating a portfolio of distinct, individually-named large-scale BESS projects across Australia (NSW, VIC, QLD, SA, TAS), with development pipelines expanding into the US, Japan, and Germany (via its Copenhagen Energy partnership). The portfolio comprises a platform of independently-developed grid-scale storage projects rather than a single unified software product: flagship assets include the Waratah Super Battery (850MW/1,680MWh, the largest in the Southern Hemisphere), Orana BESS, Ulinda Park BESS, Brendale BESS, Elaine BESS, Deer Park BESS, Glenrowan BESS, Mobilong BESS, Brinkworth BESS, Wurdong BESS, Palmerston BESS, Connewarren BESS, Kilnacroft Creek BESS, Murray Terminal BESS, and Oaky Creek (Halys) BESS, as well as the Mayfield Energy Precinct that combines a data centre campus with a 2GW/8GWh BESS. Akaysha's projects participate in the National Electricity Market (NEM), FCAS, and energy arbitrage; selected under the Australian government's Capacity Investment Scheme tenders; and are supported by technology and service partners including Tesla (battery technology), Powin Energy, Hitachi Energy (power conversion under 20-year service agreements), InEight (document management), and Re2 (revenue swap counterparty).

Differentiator

Problem solved

Functional benefit

Products and services

• Waratah Super Battery Utility-scale Battery Energy Storage System (BESS) of 850 MW / 1680 MWh in NSW, developed for EnergyCo NSW, providing grid stability services through a System Integrity Protection Scheme (SIPS) and dispatchable capacity into the NEM.
• Mayfield Energy Precinct Integrated energy precinct in the Hunter Valley, NSW combining a grid-scale BESS (up to 2 GW / 8 GWh) with a data centre campus (up to 1 GW IT capacity) and supporting transmission infrastructure.
• Orana BESS Large-scale BESS near Wellington in central-west NSW with a capacity of 415 MW / 1660 MWh (4 hours), supporting the Central-West Orana Renewable Energy Zone.
• Brendale BESS BESS in the outer suburbs of Brisbane, Queensland, with a capacity of 205 MW / 410 MWh, connected to the South Pine substation via a high-voltage underground transmission cable.
• Ulinda Park BESS 155 MW / 298 MWh BESS adjacent to the Western Downs Substation in Queensland, participating in NEM energy arbitrage and FCAS markets under a revenue swap agreement with Re2, with Hitachi Energy power converters under a 20-year service agreement.
• Elaine BESS 311 MW / 1,244 MWh BESS located 5 km north-west of Elaine, Victoria, adjacent to the Elaine Terminal Station, providing up to four hours of energy storage; construction commenced in October 2025, with Tesla as battery technology supplier and AU$460M construction financing from an eight-bank syndicate.
• Deer Park BESS Proposed 275 MW / 1,100 MWh BESS adjacent to the existing Deer Park Terminal Station in Victoria, providing up to 4 hours of energy storage, currently in early-stage development.
• Kilnacroft Creek BESS Proposed 500 MW / 2,000 MWh BESS next to the existing Jindera Terminal Substation in NSW, designed to store energy from the grid and nearby generation projects such as the Glenellen Solar Farm.
• Murray Terminal BESS Proposed 500 MW / 2,000 MWh BESS near Khancoban, NSW, strategically located on the NSW-VIC interconnector to store renewable energy from Snowy Hydro and nearby generation.
• Glenrowan BESS 400 MW / 1,600 MWh BESS in Victoria developed in collaboration with BZ Renewables, connecting into the existing Glenrowan Terminal Station and providing grid stability services.
• Brinkworth BESS Proposed 250 MW / 1000 MWh BESS located 5 km north-west of the Brinkworth township in South Australia, directly adjacent to the Brinkworth Substation, providing up to 4 hours of energy storage.
• Wurdong BESS Proposed BESS near Wurdong Heights in the Gladstone Region, QLD, with up to 400 MW / 1,600 MWh capacity, including battery units, inverters, cooling systems, a 275 kV HV substation, and a transmission line to Wurdong Substation.
• Mobilong BESS 150 MW / 600 MWh BESS located approximately 5 km north of Murray Bridge in South Australia, adjacent to the SAPN Mobilong substation; planning consent granted by the SA Planning Authority (Application ID 23010120).
• Palmerston BESS 100 MW / 200 MWh BESS being developed at the Palmerston Terminal Station in Tasmania, designed to provide system strength and inertia services to support Tasmania's 200% renewable objective.
• Connewarren BESS Proposed 1,000 MW / 4,000 MWh BESS located 11 km west of Mortlake in Victoria, connecting into the existing Mortlake Terminal Station within the South West Victorian Renewable Energy Zone.
• Oaky Creek BESS (Halys) BESS project sited on a rural lot adjoining the Halys electricity substation in Ellesmere, Queensland, being progressed through community engagement, environmental surveys, and planning approval.
• Akaysha Energy Germany Development Pipeline Multi-gigawatt utility-scale BESS development pipeline in Germany built in partnership with Copenhagen Energy, with a stated pipeline of 2.6 GW as of 30 March 2026, targeting the German utility-sized energy storage market.

Quantifiable outcome

• Projected EBITDA exceeding A$600 million by end of 2029
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• TeslaflagshipTechnology or IntegrationTesla is the battery technology supplier for Akaysha's 311MW/1,244MWh Elaine BESS in Victoria (Tesla Megapacks). The relationship leverages Tesla's record 46.7GWh energy storage deployments in 2025.
• Hitachi EnergyflagshipTechnology or IntegrationHitachi Energy has delivered 52 power converters for Akaysha's 155 MW / 298 MWh Ulinda Park BESS in Queensland, under a 20-year service agreement. Hitachi also supports the Waratah Super Battery. The long-term service model is designed for 20–25 year operational lifecycles of BESS assets.
• Powin EnergycoreTechnology or IntegrationPowin Energy is named as a supporting technology provider for Akaysha's 850 MW / 1680 MWh Waratah Super Battery project in NSW, alongside Hitachi Energy.
• Copenhagen EnergyflagshipStrategic or Co-development PartnerAkaysha has partnered with Copenhagen Energy to build a multigigawatt BESS development pipeline in Germany, with a stated pipeline of 2.6GW as of 30 March 2026. The partnership marks Akaysha's expansion into the German utility-sized energy storage market, alongside existing pipelines in the US and Japan.
• Malabar ResourcescoreStrategic or Co-development PartnerAkaysha has partnered with Malabar Resources to develop the Mayfield Energy Precinct in the Hunter Valley region of NSW — a flagship integrated energy project combining a BESS (up to 2 GW / 8 GWh) with a data centre campus (up to 1 GW IT capacity) and transmission infrastructure, leveraging Malabar's existing mining, solar and agricultural operations.
• BZ RenewablescoreStrategic or Co-development PartnerAkaysha is developing the 400 MW / 1600 MWh Glenrowan BESS in Victoria in collaboration with BZ Renewables. The BESS will connect into the existing Glenrowan Terminal Station and provide grid stability services.
• Wind ProspectminorImplementation/ SI/ Consulting PartnerWind Prospect has been engaged alongside Akaysha Energy on the Brinkworth BESS project in South Australia to undertake community engagement with government agencies, Regional Councils, Traditional Owner groups, landowners and neighbours.
• EverozeminorImplementation/ SI/ Consulting PartnerEveroze was engaged as an independent third party to undertake a climate risk and vulnerability assessment for Akaysha's Elaine BESS, covering a 40-year lifespan in line with IPCC modelling across three climate scenarios. Everoze is also referenced as an independent reviewer of Akaysha's Human Rights Impact Assessment.
• Energy Corporation of NSW (EnergyCo NSW)flagshipStrategic or Co-development PartnerEnergyCo NSW appointed Akaysha Energy to develop the 850 MW / 1680 MWh Waratah Super Battery in NSW. Akaysha develops, owns and operates the asset under a long-term contract delivering at least 700 MW of continuous active power and 1400 MWh of usable energy capacity through a System Integrity Protection Scheme (SIPS).

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Neoen: French-listed independent power producer with a large utility-scale BESS and renewables portfolio, including flagship storage projects in Australia. Closely comparable vertically integrated developer-owner model and similar CIS-style contract exposure.
• TagEnergy: Australia- and UK-focused BESS and renewables developer competing directly with Akaysha in the NEM, with similar CIS tender participation and utility-scale storage projects under development.
• Copenhagen Energy: Danish renewables and BESS developer and Akaysha's co-development partner in Germany; operates a similar utility-scale storage development model in Northern Europe, providing a direct comparator for the international pipeline.
• Edify Energy: Australian renewable energy and storage developer with operational and pipeline BESS projects in the NEM, similar project finance structures, and CIS tender participation.

Broad incumbents

• Fluence Energy: Global BESS technology and integration provider (Siemens/AES JV heritage) supplying grid-scale systems; competes with Akaysha's multi-vendor stack at the equipment and software layer and is a sector benchmark for the BESS asset class.
• AGL Energy: Australia's largest integrated utility with utility-scale BESS projects in the NEM and significant coal-replacement fleet transition; competes for grid-scale storage contracts and CIS capacity allocations alongside Akaysha.
• Origin Energy: Major Australian energy retailer and generator with growing utility-scale BESS portfolio and merchant exposure to the NEM, competing with Akaysha for grid services contracts and development sites.
• Iberdrola: Global utility with significant BESS and renewables investment, including Australian presence via Iberdrola Australia; relevant comparator for international expansion patterns and project finance syndication scale.
• Engie: Global utility with utility-scale BESS and renewables portfolio across multiple geographies; relevant peer for Akaysha's international expansion ambitions and contract-backed revenue models.

Others

• Tesla Energy: BESS technology supplier (Megapacks) for Akaysha's Elaine project and the broader BESS ecosystem; adjacent rather than directly competing at the developer-owner layer but critical to Akaysha's supply chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/akaysha-energy

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors17 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Akaysha Energy