SEC Victoria

What SEC Victoria does

SEC Victoria Pty Ltd is a vertically integrated, government-owned renewable energy company wholly owned by the Victorian Government and enshrined in the State of Victoria's Constitution since October 2024. The company is a reincarnation of the original State Electricity Commission of Victoria (founded 1918) and was re-established in November 2022 to accelerate Victoria's transition away from ageing coal-fired generation. SEC operates across the full renewable energy value chain — utility-scale solar and wind generation, battery energy storage (including long-duration), electricity retailing, household electrification enablement, and flexible demand services — with a target of 4.5 GW of generation and storage capacity by 2035, of which more than 1 GW is already committed as of January 2026.

The core asset portfolio comprises the 600 MW/1.6 GWh Melbourne Renewable Energy Hub (444 Tesla Megapacks, operational December 2025), the 119 MW solar + 100 MW/2-hour BESS Renewable Energy Park at Horsham (under construction with developer OX2), the 205 MW Delburn Wind Farm (33 Vestas turbines, expected operational 2028, 100% acquired December 2025), and the 143-hectare SEC Energy Works innovation precinct in the Latrobe Valley where SEC is partnering with Energy Dome on Australia's first commercial closed-loop compressed CO2 long-duration battery (20 MW, 10-12 hour discharge). SEC also offers a Virtual Power Plant, Demand Response, BYO Battery, and Long-Term Structured Retail products for commercial customers, and the Easy Electric SEC digital platform connecting households to endorsed installers for heat pumps, induction cooktops, solar, batteries, and EV chargers.

The business model combines electricity retail subscriptions (Fixed Price, PPAs, Spot Pricing — serving ~4,300 Victorian Government sites representing ~5% of state demand plus emerging commercial customers), returns from renewable asset ownership reinvested for public benefit, and Large-scale Generation Certificate revenues. Three wholly-owned subsidiaries — SEC Victoria Pty Ltd, SEC Energy Pty Ltd, and SEC Infrastructure Pty Ltd — house operations, energy, and infrastructure activities respectively. The company is private, not listed on any exchange, with 101-250 employees headquartered in Melbourne and a regional hub in Morwell.

Name

SEC Victoria

Legal name

SEC Victoria Pty Ltd

Website

https://secvictoria.com.au

Company type

Private

Founded year

1918

Operating status

Operating

Headcount range

101–250 employees

Short description

SEC Victoria is a government-owned, vertically integrated renewable energy company in Victoria, Australia, generating, storing, and retailing 100% renewable electricity to government, commercial, and residential customers while building a 4.5 GW portfolio by 2035.

Ownership category

akta.pro rank

Product category

Renewable Energy and Electricity Retail

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Utilities (22), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Municipal Electric Utilities (Munis) (EUADABAB)

akta.pro secondary industries

Microgrids & Energy Management Controllers (Campus/Community/Industrial) (EUADAPAE), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), Resilience & Backup Power Solutions (Critical Facilities, Islanding) (EUAMAJAK), Unbundled Renewable Attributes Trading (Standalone EACs) (EUAGAFAF)

Keywords

• Renewable energy generation
• Electricity retail services
• Battery energy storage
• Utility-scale solar projects
• Household electrification solutions

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Electricity Retail: SEC retails 100% renewable electricity to Victorian Government operations (schools, hospitals, transport networks, water corporations, emergency services) and commercial and industrial customers. Revenue is generated through electricity sales with various pricing structures including fixed price, spot pricing, and structured retail options.
2. Asset Investment and Ownership: SEC invests in renewable energy generation and storage assets (wind, solar, battery storage) to build a 4.5 GW portfolio by 2035. Returns are reinvested into new renewable energy projects for public benefit.
3. Large-scale Generation Certificates (LGCs): SEC matches customer electricity consumption by surrendering LGCs generated by renewable energy sources including SEC's own projects and Victorian Renewable Energy Target auction contracts.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

SEC Victoria is a vertically integrated, government-owned renewable energy company that generates, stores, and retails 100% renewable electricity in Victoria, Australia. It operates utility-scale solar, wind, and battery storage assets (1+ GW committed toward a 4.5 GW by 2035 target) and supplies renewable electricity through structured retail products to Victorian Government operations, commercial/industrial customers, and via its Easy Electric SEC platform to households seeking electrification.

Product overview

SEC Victoria is a government-owned renewable energy company offering a portfolio of energy products and services. The core offerings include retail of 100% renewable electricity to commercial, industrial, and government customers, with products such as Fixed Price contracts, Progressive Firming agreements, PPAs, and Spot Pricing. For households, the Easy Electric SEC platform provides a one-stop-shop digital service for switching to electric appliances with access to endorsed installers. The company's asset portfolio includes large-scale battery storage (Melbourne Renewable Energy Hub at 600 MW), solar and battery parks (SEC Renewable Energy Park Horsham at 119 MW solar + 100 MW BESS), wind farms (SEC Delburn at 205 MW), and an innovation precinct (SEC Energy Works). Household products cover heating/cooling, hot water, cooking, solar, batteries, and EV chargers. SEC also operates flexible demand solutions including Demand Response, Virtual Power Plant, and BYO Battery programs.

Differentiator

Problem solved

Functional benefit

Brands

• Easy Electric SEC: One-stop-shop digital platform designed to help Victorian households switch from gas to electric appliances and save on energy bills.
• Melbourne Renewable Energy Hub
• SEC Renewable Energy Park - Horsham
• SEC Delburn Wind Farm
• SEC Energy Works

Products and services

• 100% Renewable Electricity Fixed Price Retail electricity product providing 100% renewable electricity with multi-period Time-of-Use Tariffs and Standard Peak & Off Peak pricing options for commercial and industrial customers.
• Long-Term Structured Retail with Progressive Firming Energy solution allowing commercial and industrial customers to select the right mix of price certainty and exposure to wholesale markets to meet their risk profile.
• Power Purchase Agreements (PPA) Wholesale PPA product enabling Victorian businesses to secure renewable electricity, which can also be sleeved into a retail contract.
• Demand Response Flexible demand solution that rewards commercial and industrial customers for reducing energy use during peak demand periods.
• Virtual Power Plant (VPP) Flexible demand solution allowing customers to connect energy assets and create new revenue streams through aggregated distributed energy resources.
• BYO Battery Flexible demand solution enabling customers to turn their existing battery into a revenue-generating asset.
• Easy Electric SEC Digital one-stop-shop platform helping Victorian households switch from gas to electric appliances, with personalized energy use analysis, upgrade recommendations, rebate information, obligation-free quotes, and connections to SEC-endorsed installers.
• Melbourne Renewable Energy Hub Co-owned battery energy storage facility in Plumpton, VIC providing 600 MW capacity and 1.6 GWh storage using 444 Tesla Megapacks, capable of powering up to 200,000 homes during evening peak periods. SEC investment of $245 million as part of a $1.1 billion total project.
• SEC Renewable Energy Park - Horsham 100% publicly owned utility-scale solar and battery project in Victoria's west near Horsham, with a 119 MW solar farm using 212,000+ PV panels coupled with 100 MW/2-hour BESS. SEC investment of $370 million, expected to power 51,000 homes.
• SEC Delburn Wind Farm Victoria's first 100% publicly owned utility-scale wind farm with 33 turbines generating up to 205 MW, located south of the Latrobe Valley in Gippsland. Anticipated SEC capital expenditure of $600-700 million, expected to be operational by 2028.
• SEC Energy Works 143-hectare energy innovation precinct in Victoria's Latrobe Valley (Hazelwood North) for developing new energy infrastructure and storage technologies, including Australia's first commercial closed-loop compressed CO2 long-duration energy storage (20 MW, 10-12 hour supply).
• SEC Endorsed Installer Network Network of SEC-endorsed regional and local installation businesses qualified to install energy-efficient electric appliances including heat pumps, solar, batteries, induction cooktops, and EV chargers for Victorian households.

Quantifiable outcome

• Households can save approximately $2,000 per year on energy bills by going all-electric
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

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

• Energy DomecoreStrategic or Co-development Partner · 10 July 2026SEC partnered with Energy Dome to develop Victoria's first long-duration battery project - a 20 MW closed-loop, compressed CO2 storage facility at SEC Energy Works in Latrobe Valley. Once built, the facility will supply electricity for 10-12 hours continuously. Energy Dome is a global clean technology company bringing proven compressor and turbine technology.
• GreenPoint Energy (Equis)flagshipStrategic or Co-development Partner · 13 December 2023SEC co-owns the Melbourne Renewable Energy Hub with GreenPoint Energy, a subsidiary of Equis. The $1.1 billion project (SEC investment $245 million) provides 600 MW capacity and 1.6 GWh storage, powering 200,000 homes. The partnership combines SEC's government ownership with GreenPoint's development expertise.
• OX2coreStrategic or Co-development PartnerSEC is working with developer OX2 to build the SEC Renewable Energy Park - Horsham in two stages - a 119 MW solar farm and 100 MW/2-hour battery storage. The $370 million investment is one of Australia's first integrated solar and BESS projects.
• OSMI AustraliacoreStrategic or Co-development PartnerSEC is working with OSMI Australia to build and deliver the SEC Delburn Wind Farm - Victoria's first 100% publicly owned utility-scale wind generation project. The $600-$700 million project will have 33 turbines generating up to 205 MW.
• KinawaycoreStrategic or Co-development PartnerSEC is proud to partner with Kinaway, the peak body representing certified Aboriginal and Torres Strait Islander businesses in Victoria. The partnership supports Kinaway's First Peoples-led work to strengthen Indigenous owned businesses and enable economic participation through advocacy, capability building, mentorship, and access to economic opportunities.
• VestascoreTechnology or IntegrationVestas is supplying turbines for the SEC Delburn Wind Farm and will provide service technicians during the operations phase from 2028. They are a global leader in wind turbine technology.
• Delta GroupcoreImplementation/ SI/ Consulting PartnerDelta Group is the primary construction partner for SEC Delburn Wind Farm, handling civil works, foundation construction, cable installation, and infrastructure. They are expected to procure services from local suppliers during construction.
• KineticcoreChannel Partner/ Reseller/ DistributorSEC powers Kinetic's Preston depot with 100% renewable electricity. Kinetic operates one third of Melbourne's bus network and is transitioning to zero-emission buses charged by renewable electricity from SEC.
• BunningsminorGTM or Marketing PartnerSEC partnered with Bunnings for 'Why Electrify' weekends - a marketing initiative to educate Victorian households about saving on energy bills through electrification at Bunnings store locations.
• Specialized Solar & ElectricalminorChannel Partner/ Reseller/ DistributorSpecialized Solar & Electrical is one of the first installer businesses to join SEC's state-wide network of endorsed installers, helping households transition to efficient all-electric futures.
• First Peoples' Assembly of VictoriacoreStrategic or Co-development PartnerSEC co-developed the First Peoples Relationship Principles with the First Peoples' Assembly of Victoria and several Traditional Owner Corporations. These principles guide SEC's operations and relationship with Victoria's First Peoples.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tilt Renewables: Pre-merger Australian wind, solar, and storage developer/operator with strong origination through to operations capability. Highly relevant to SEC given the shared focus on wind and BESS portfolios, and given SEC's EGM Energy Markets Mike Wilson previously led Tilt's trading and C&I build-out.
• Snowy Hydro: Australian federal government-owned generator and retailer, including the Snowy 2.0 pumped hydro and Long Duration Storage portfolio. Directly comparable to SEC as another Australian state/federal-owned vertically integrated renewable utility combining generation, storage, and retail.
• Iberdrola Australia: Owns and operates large-scale wind, solar, and battery assets in Australia (via CWP Renewables, Infigen, and Avangrid). Directly comparable to SEC as a portfolio operator of utility-scale renewables and storage in the same NEM geography.
• CleanCo Queensland: Queensland state-owned renewable energy generator and retailer, established to drive the state's clean energy transition. Closest functional analog to SEC at the state level — publicly owned, focused on renewable generation supply to government and C&I customers, and competing directly in policy, capital, and customer mandates.
• Pacific Hydro / Pacific Blue: Australian renewable energy developer and operator with wind, solar, and storage assets, plus retail and trading operations. Directly comparable on asset mix and on personnel (Mike Wilson and Lane Crockett both held senior roles at Pacific Hydro before joining SEC).

Broad incumbents

• EnergyAustralia: One of Australia's 'big three' energy retailers and a major Victorian C&I and government supplier. Competes directly with SEC for non-government C&I load and has been referenced in SEC's leadership backgrounds (CEO Chris Miller and several board members previously worked at EnergyAustralia).
• AGL Energy: Australia's largest private integrated energy generator-retailer with significant renewable assets and a major C&I and residential customer book. Most direct commercial competitor to SEC in the Victorian retail and generation markets, and a benchmark for SEC's longer-term scale ambitions.
• Origin Energy: Major Australian integrated energy retailer and generator with a growing renewables portfolio and large C&I/government book. Competes head-to-head with SEC in Victorian retail, PPAs, and behind-the-meter solutions, and provides a reference for retail margin and customer-acquisition economics.

Regional players

• Meridian Energy: New Zealand government-owned (mixed-listed) renewable generator-retailer. Closest international analog to SEC: state-owned, vertically integrated, 100% renewable supply, and a generator-retailer hybrid. Useful benchmark for SEC's long-run capital structure, dividend policy, and customer-mix trajectory.

Others

• Tesla Energy: Supplied the 444 Megapack units underpinning SEC's flagship Melbourne Renewable Energy Hub. Strategic technology and infrastructure partner, and the dominant global BESS supplier whose pricing, software (Autobidder), and roadmap materially shape SEC's storage economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SECVictoria
• LinkedInlinkedin.com/company/secvictoria
• Instagraminstagram.com/secvictoria_

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 SEC Victoria