What Eku Energy does

Eku Energy is a UK-headquartered specialist developer, constructor, and operator of utility-scale Battery Energy Storage Systems (BESS), focused exclusively on accelerating the global energy transition through grid-scale storage infrastructure. Founded in 2022 and jointly owned by Macquarie Asset Management's Green Investment Group and British Columbia Investment Management Corporation, the company operates across six markets (Australia, UK, Japan, New Zealand, Italy, and Germany) with a portfolio of 8 projects in operation or construction and 50+ projects in development, totaling 25.1 GWh in active delivery. Project scale ranges from 2 MW/8 MWh demonstration assets to 400 MW/1,600 MWh utility-scale systems, with durations spanning 2 hours to 10+ hours using lithium-ion LFP chemistry and exploration of LDES chemistries (sodium-ion, vanadium flow, iron-air).

The core technology stack centers on lithium-ion BESS, with Williamsdale BESS operating in grid-forming mode to deliver system strength and fast-acting FCAS. Revenue is generated through four primary streams: government capacity tenders (e.g., Australia's CIS Tender 8, ACT Government's 15-year revenue swap on Williamsdale), merchant energy trading and grid services across national electricity markets, long-dated tolling agreements (e.g., 10-year SmartestEnergy toll for Ocker Hill BESS — described as the longest publicly announced debt-financed toll in the UK), and community benefit-sharing arrangements. Projects are co-developed with local partners (LP Renewables, Helios Energy, ATRIA energy) and financed through bank syndicates (Westpac, SMBC, MUFG, NatWest).

Go-to-market is structured around government-tendered capacity schemes, direct enterprise sales to transmission and distribution network operators (TEPCO, Evoenergy, Transpower NZ, Powerlink, AEMO), and tolling/offtake arrangements with energy traders and optimization partners. Technology supply partnerships with Tesla Energy (Megapacks for Williamsdale) and NHOA Energy (Basildon, Loudwater) underpin delivery, while standardized project design (e.g., identical 300MW/1,200MWh Tramway Road and Wongalea BESS) is used to streamline regulatory approvals. Customer segments are primarily government/public sector and electricity network operators/utilities, with secondary exposure to independent power producers via tolling and offtake agreements.

Name

Eku Energy

Legal name

Eku Energy Limited

Website

https://ekuenergy.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Eku Energy is a UK-headquartered specialist developer and operator of utility-scale battery energy storage systems. It serves governments, utilities, and network operators across Australia, UK, Japan, New Zealand, Italy, and Germany, with 25.1 GWh of storage projects in active delivery.

Ownership category

akta.pro rank

Product category

Battery Energy Storage Systems

NAICS

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

SIC

Electric Services (4911)

akta.pro primary industry

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

akta.pro secondary industries

BESS EPC, Integration & Commissioning (EUAFAAAB), Stationary Energy Storage Systems (BESS/ESS Integrators) (IMAGAHAD), BESS O&M and Lifecycle Services (Warranty, Spares, Monitoring) (EUAEAEAM)

Keywords

• Battery energy storage
• Utility-scale storage
• Grid-scale batteries
• Energy storage systems
• Battery storage development

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Capacity Investment Scheme (CIS) Tenders: Eku Energy participates in government-run capacity tender schemes (e.g., Australia's CIS Tender 8) where projects receive long-term contracts with fixed quarterly payments in exchange for dispatchable capacity. For Williamsdale BESS, the ACT Government provides fixed quarterly payments over 15 years, while Eku Energy receives a share of NEM revenue from the battery's market participation.
2. Energy Trading and Grid Services: BESS assets earn revenue by participating in wholesale electricity markets (National Electricity Market in Australia, equivalent markets in UK, Japan, NZ), providing energy arbitrage, frequency control ancillary services (FCAS), and system strength services. Revenue is merchant-based and market-dependent.
3. Tolling Agreements: Long-term tolling agreements with energy traders and optimization partners (e.g., 10-year SmartestEnergy tolling agreement for Ocker Hill BESS) provide contracted revenue streams, with the tolling partner paying for access to battery capacity while Eku Energy retains ownership of the asset.
4. Community Benefits and Shared Revenue: Innovative revenue swap arrangements where government partners (ACT Government) receive a share of market revenue from BESS participation in exchange for fixed quarterly payments to Eku Energy, aligning incentives between the developer and host government.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Eku Energy is a specialist end-to-end battery energy storage system (BESS) developer and operator, focused exclusively on utility-scale lithium-ion battery storage projects. The company develops, finances, constructs, and operates projects ranging from 2 MW demonstration systems to 400 MW/1,600 MWh grid-scale installations across Australia, the UK, Japan, New Zealand, Italy, and Germany. Its portfolio delivers energy arbitrage, frequency control, system strength services, and renewable energy integration to national electricity networks through long-term contracted capacity schemes, tolling agreements, and merchant energy trading.

Product overview

Eku Energy is a specialist end-to-end battery energy storage system (BESS) company that develops, constructs, and operates utility-scale battery storage projects globally. The company operates a portfolio of 20+ BESS projects across five countries (Australia, UK, Japan, New Zealand, Italy), ranging from small 2 MW demonstration projects to large-scale 400 MW/1,600 MWh systems. The core product portfolio includes operational assets like Rangebank BESS (200 MW/400 MWh), Basildon BESS (28 MW/56 MWh), and Kami-Tonno BESS (2 MW/8 MWh); construction-stage projects including Williamsdale BESS (250 MW/500 MWh), Ocker Hill BESS (99 MW/198 MWh), and Hirohara BESS (30 MW/120 MWh); and development-stage projects including Belah BESS (400 MW/1,600 MWh), Byellee BESS (300 MW/1.16 GWh), Wongalea BESS (300 MW/1,200 MWh), Tramway Road BESS (300 MW/1,200 MWh), and Whakamaru North BESS (300 MW in New Zealand). The company leverages technology partnerships with suppliers like Tesla Energy (Megapack) and NHOA Energy, and offers community benefit-sharing programs under the Powering Big Dreams initiative.

Differentiator

Problem solved

Functional benefit

Products and services

• Rangebank BESS A 200 MW/400 MWh battery energy storage system located in Cranbourne West, Victoria, Australia. Operational project supporting Melbourne's energy grid with energy arbitrage and grid services.
• Basildon BESS A 28 MW/56 MWh battery energy storage system in Basildon, Essex, United Kingdom. Operational project using NHOA Energy technology to provide grid services in the UK market.
• Loudwater BESS A 40 MW/55 MWh battery energy storage system in High Wycombe, Buckinghamshire, UK. Operational project providing grid services and energy trading in the UK market.
• Maldon BESS A 40 MW/40 MWh battery energy storage system in Maldon, Essex, UK. Operational project providing energy storage and grid services in the UK market.
• Kami-Tonno BESS A 2 MW/8 MWh grid-scale battery energy storage system in Nogata City, Fukuoka Prefecture, Japan. Operational project, the company's first commissioned in Japan, supporting TEPCO service area grid stability.
• Williamsdale BESS A 250 MW/500 MWh battery energy storage system located in Tuggeranong, ACT, Australia. Partnered with ACT Government as part of the Big Canberra Battery project, with Tesla Megapack technology and a 15-year revenue swap arrangement.
• Ocker Hill BESS A 99 MW/198 MWh battery storage system in Ocker Hill, West Midlands, UK. Under construction with a 10-year tolling agreement with SmartestEnergy, notable as the longest publicly announced debt-financed toll in the UK.
• Hirohara BESS A 30 MW/120 MWh battery energy storage system in Miyazaki City, Miyazaki Prefecture, Japan. Currently in construction to support TEPCO service area grid stability.
• Byellee BESS A 300 MW/1.16 GWh battery energy storage system in Gladstone, Queensland, Australia. Successfully selected in Australian Capacity Investment Scheme Tender 8, co-developed with ATRIA energy.
• Griffith BESS A 100 MW/800 MWh long-duration battery storage system in Yoogali, NSW, Australia. Awarded Long-Term Energy Service Agreement in February 2025, with financial close targeted Q1 2026 and operations expected in 2028.
• Chessington BESS A 240 MW/960 MWh lithium-ion battery energy storage system located in Greater London, UK. Currently in development with planning and environmental studies underway.
• Belah BESS A 400 MW/1,600 MWh battery energy storage system near Chinchilla in Queensland, Australia. Co-developed with LP Renewables Projects, currently in development stage.
• Tramway Road BESS A 300 MW/1,200 MWh lithium-ion battery storage system in Latrobe Valley, Gippsland, Victoria, Australia. Development approval granted October 2025, located adjacent to Hazelwood Terminal Station.
• Wongalea BESS A 300 MW/1,200 MWh lithium-ion battery storage system located approximately 5km east of Armidale, NSW, Australia. Direct connection to Armidale Substation, currently in development.
• Whakamaru North BESS A 300 MW battery energy storage system co-developed with Helios Energy near Mangakino, Waikato, New Zealand. Located at 51 Sandel Road with planned connection to Transpower's Whakamaru North Substation.
• Naganohara BESS A 30 MW/120 MWh battery energy storage system in Naganohara, Gunma Prefecture, Japan. Project moved to implementation phase to support TEPCO grid stability and mitigate solar generation curtailment.
• Monduran BESS A 400 MW/1,600 MWh battery energy storage system near Bundaberg, Queensland, Australia. Submitted for environmental assessment, using lithium-ion technology.
• Wagga South BESS A 300 MW/1,200 MWh lithium-ion battery storage system located in Gregadoo, NSW, Australia (formerly Arundel BESS). Adjacent to Wagga Wagga 330kV Substation, currently in development.
• Eshi BESS A 150 MW/600 MWh battery energy storage system in Okayama Prefecture, Japan. Currently in development for the Japanese market.

Quantifiable outcome

• Williamsdale BESS stores enough renewable energy to power one-third of Canberra for two hours during peak demand.
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

15 partnerships are on record, tiered core, major and minor.

• Bluestone EnergycoreStrategic or Co-development Partner · 1 January 2026Eku Energy acquired a 1GW+ battery storage portfolio from Bluestone Energy, as advised by TLT law firm. This acquisition significantly expanded Eku Energy's global project pipeline and contributed to TLT being ranked second globally for M&A deal volume in Clean Energy Pipeline's 2025/2026 Clean Energy Legal League Table.
• ATRIA energycoreStrategic or Co-development Partner · 1 February 2025ATRIA energy is Eku Energy's development partner for the Byellee BESS (300MW/1.16GWh) in Queensland. Together with Eku Energy, ATRIA is developing Byellee BESS throughout 2026 with construction expected to commence in 2027, following the project's success in CIS Tender 8.
• Tesla EnergymajorTechnology or Integration · 6 November 2024Tesla Energy supplies Megapack battery storage systems for the Williamsdale BESS (250MW/500MWh) in Canberra. Tesla Megapacks began arriving on site in mid-October 2025. Tesla is a key technology partner for Eku Energy's Australian construction projects.
• Consolidated Power Projects (CPP)majorImplementation/ SI/ Consulting Partner · 6 November 2024Consolidated Power Projects is appointed as Balance of Plant contractor for the Williamsdale BESS, responsible for civil works, electrical installations, and construction management. CPP shares Eku Energy's philosophy in safety and innovation and is described as a trusted delivery partner.
• LP Renewables Projects (LPRP)coreStrategic or Co-development PartnerEku Energy co-develops the Belah BESS (400MW/1,600MWh) with LP Renewables Projects, an Australian-based and owned developer with over 40 years of experience in wind power, solar and storage. LPRP leads local community engagement, ecological surveys, and technical assessments for the Queensland project.
• Helios EnergycoreStrategic or Co-development PartnerEku Energy is co-developing the Whakamaru North BESS (300MW) in New Zealand with Helios Energy, a NZ-based developer of renewable power generation projects. Helios Energy leads local consenting, community consultation, and iwi engagement for the project located at 51 Sandel Road, Mangakino.
• SmartestEnergymajorStrategic or Co-development PartnerSmartestEnergy holds a 10-year tolling agreement for Eku Energy's 99MW/198MWh Ocker Hill BESS in the UK West Midlands. This is described as the longest publicly announced debt-financed toll in the UK. SmartestEnergy is owned by Marubeni Corporation, demonstrating growing global investor appetite for storage assets supporting renewable energy.
• ACT GovernmentcoreStrategic or Co-development PartnerEku Energy partnered with the ACT Government to deliver the Williamsdale BESS (250MW/500MWh) as part of the Big Canberra Battery ecosystem. The partnership includes an innovative revenue swap arrangement: the Territory receives a share of NEM market revenue while Eku Energy receives fixed quarterly payments over 15 years. The partnership represents Eku Energy's first GWh of battery storage in delivery in Australia.
• Australian National University (ANU)majorStrategic or Co-development PartnerEku Energy committed A$500,000 to ANU's Battery Storage and Grid Integration Program for research and development activities that support the future uptake and integration of battery storage in Australia. Postdoctoral research is underway to analyse the role of utility-scale batteries in the NEM, with findings accessible to policymakers and the public to strengthen social license for BESS projects.
• Gunma Prefectural Enterprise BureaumajorStrategic or Co-development PartnerEku Energy signed an agreement with the Gunma Prefectural Enterprise Bureau for a site near Naganohara in Gunma Prefecture, Japan, to build a 120MWh BESS project. The facility will support TEPCO grid stability and mitigate solar generation curtailment in the region, advancing Japan's 2050 net-zero goals.
• TEPCO (Tokyo Electric Power Company)majorStrategic or Co-development PartnerEku Energy's Japan BESS projects (Naganohara and Kami-Tonno) are designed to support the stability of the TEPCO service area. The Naganohara BESS will aggregate distributed solar for TEPCO's peak market and help mitigate solar generation curtailment, advancing Japan's 2050 net-zero goals.
• Tokushima Prefecture (Japan)majorStrategic or Co-development PartnerEku Energy entered into a comprehensive partnership agreement with Tokushima Prefecture for the 'Tokushima Battery Valley Initiative,' regional revitalization, disaster preparedness, education, human resource development, and environmental conservation. This partnership supports sustainable community development and fosters next-generation industries in Japan.
• Evoenergy / Transpower New Zealand / PowerlinkmajorTechnology or IntegrationEku Energy's projects connect to grid infrastructure managed by network operators including Evoenergy (ACT), Transpower New Zealand (Whakamaru North), and Powerlink (Belah BESS, Queensland). These connections are critical for project viability and involve grid connection agreements and technical coordination.
• Habitat EnergyminorChannel Partner/ Reseller/ DistributorHabitat Energy is listed as a partner/supplier for the Williamsdale BESS project, likely providing battery optimization and trading services for the asset once operational.
• Reconciliation AustraliaminorOthersEku Energy's Reflect Reconciliation Action Plan was endorsed by Reconciliation Australia in early 2025, guiding the company's engagement with First Nations communities across all Australian project sites.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Fluence Energy: Public, US-headquartered BESS specialist that designs, integrates, and services utility-scale storage projects globally. Closely comparable to Eku as a vertically integrated storage platform with multi-GW project pipelines across the Americas, EMEA, and APAC.
• Wartsila Energy Storage: Storage arm of Wartsila, providing utility-scale BESS and grid services across Europe, Australia, and the Americas. Comparable to Eku in targeting grid-scale battery projects with hybrid revenue models and merchant participation.
• Powin Energy: US-based BESS integrator and project developer with utility-scale storage deployments in North America, UK, and Australia. Comparable to Eku in offering multi-MW to multi-hundred-MW BESS solutions to utilities and developers.
• Harmony Energy: UK-focused BESS developer and operator with operational utility-scale projects and a multi-GWh pipeline. Comparable to Eku in targeting UK capacity markets, tolling structures, and renewable integration use cases.
• Field: UK BESS developer backed by the Wren House Infrastructure fund, developing utility-scale storage projects for the GB market. Comparable to Eku in geography (UK), asset class, and contracting approach.
• TagEnergy: Australia- and Europe-focused renewables and storage developer building utility-scale BESS projects. Comparable to Eku in Australian market presence, project scale (multi-hundred-MW), and pipeline-driven growth strategy.
• Ylem Energy: UK-based BESS developer and operator with operational projects and development pipeline in GB. Comparable to Eku in targeting UK grid services, capacity market revenues, and tolling structures.

Broad incumbents

• Tesla Energy: Tesla's energy business supplies Megapack systems and develops utility-scale storage projects (and is a technology supplier to Eku). Comparable as a broad incumbent in BESS hardware, project development, and grid services across Eku's geographies.
• Engie: Global utility with significant utility-scale BESS development and operations, including its full ownership of the Hazelwood BESS acquired from Eku. Comparable as a diversified incumbent active in Australian, European, and APAC storage markets.
• Iberdrola: Global utility with multi-GW BESS pipeline across UK, Australia, and other markets. Comparable as a broad incumbent pursuing utility-scale storage alongside its renewables portfolio, competing with Eku for tenders and tolling contracts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ekuenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors3 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 Eku Energy