PLUS Grid Storage

What PLUS Grid Storage does

PLUS Grid Storage is a development-stage Australian infrastructure company that plans, delivers and operates grid-scale Battery Energy Storage Systems (BESS) in the National Electricity Market, with a deliberate focus on distribution-connected (rather than transmission-connected) assets. The company's core technology is large-format rechargeable battery systems — exemplified by the 400MWh Steel River East BESS comprising 112 battery units plus a control and switch room — that store energy when supply is abundant and dispatch it during peak demand, providing local network stability, reducing reliance on coal and gas peakers, and enabling higher renewable penetration on constrained distribution networks. The technical differentiator is siting strategy: locating storage on the distribution network near existing substations and under-utilised industrial sites (e.g., Mayfield West, Homebush) to minimise community and environmental impact while leveraging existing electrical infrastructure.

The business is structured as a four-party joint venture between the NSW Government, IFM Investors, APG Group and AustralianSuper, and operates as a separate unregulated entity within the Ausgrid Group, giving it access to Ausgrid's distribution network, operational expertise and grid connections. Revenue is expected to be generated through managed-services-style contracts for grid stability, peak demand management and renewable balancing services, sold ultimately into the National Electricity Market via counterparty agreements, though no pricing or offtake terms are publicly disclosed. Customers are NSW residential and business electricity consumers and distribution network operators (notably Ausgrid itself as a related party). The company is currently pre-revenue: its flagship 400MWh Steel River East BESS received Independent Planning Commission approval in March 2026, with construction scheduled mid-2026 and energisation in 2027, while a second project (Homebush BESS) is in early planning. The publicly stated development pipeline exceeds 1GW of distribution-connected storage capacity targeted for delivery by 2031.

Name

PLUS Grid Storage

Legal name

PLUS Grid Storage

Website

https://plusgridstorage.com.au

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

PLUS Grid Storage is an Australian grid-scale battery energy storage developer, jointly backed by NSW Government, IFM Investors, APG Group and AustralianSuper, operating inside the Ausgrid Group to deliver over 1GW of distribution-connected BESS capacity in NSW by 2031.

Ownership category

akta.pro rank

Product category

Grid-Scale Battery Energy Storage

NAICS

Electric Power Generation (22111), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911)

akta.pro primary industry

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

akta.pro secondary industries

BESS Operations, Maintenance & Asset Performance Management (APM) (EUAFAAAG), BESS Grid Interconnection, System Studies & Grid Code Compliance (EUAFAAAJ), Energy Storage & Microgrid Electrical Infrastructure (BESS, Controls) (IMAFAHAE)

Keywords

• Grid-scale battery storage
• Battery energy storage
• Distribution-connected storage
• Energy storage infrastructure
• Renewable integration

Headquarters

HQ city

Newcastle

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Grid-Scale Battery Storage Services: The company generates revenue through the planning, delivery and operation of grid-scale battery energy storage systems that provide stability services to the electricity grid. As a regulated network-adjacent business within the Ausgrid Group, PLUS Grid Storage operates as an unregulated entity that monetizes battery storage assets by storing excess energy and supplying it during peak demand periods.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PLUS Grid Storage plans, delivers and operates grid-scale Battery Energy Storage Systems (BESS) for Australia's National Electricity Market. The company focuses on distribution-connected battery assets co-located near existing distribution substations to store energy when abundant and dispatch it during peak demand, providing local grid stability and renewable integration services. Operating as an unregulated entity within the Ausgrid Group, PLUS Grid Storage is building more than 1GW of battery capacity by 2031, including the Steel River East BESS at Mayfield West and the Homebush BESS.

Product overview

PLUS Grid Storage is a partnership between the NSW Government, IFM Investors, APG Group and AustralianSuper, operating as a separate unregulated entity within the Ausgrid Group. The company specialises in the planning, delivery, and operation of grid-scale Battery Energy Storage Systems (BESS) in the National Electricity Market. Their portfolio includes the Steel River East BESS (400MWh, Mayfield West) and the Homebush BESS (details pending), with a total pipeline of over 1GW of distribution-connected battery storage planned across NSW by 2031. The BESS products store energy when abundant and release it during high demand, strengthening the electricity distribution network and enabling renewable energy integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Steel River East BESS A 400MWh Battery Energy Storage System located at Mayfield West, designed to be distribution-connected to a nearby existing substation for local energy storage and dispatch. It is intended to provide grid stability, peak-demand support and renewable integration for the National Electricity Market, leveraging control and switch room infrastructure co-located with existing distribution assets.
• Homebush BESS A grid-scale Battery Energy Storage System at Homebush, in early planning as part of PLUS Grid Storage's pipeline of distribution-connected battery projects. It is intended to provide local energy storage and dispatch services for the National Electricity Market, following the same substation-adjacent model used in the Steel River East BESS.

Quantifiable outcome

• Over 1GW of distribution-connected battery storage capacity planned by 2031
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Ausgrid GroupcoreOthersPLUS Grid Storage is a separate unregulated entity within the Ausgrid Group, operating independently from Ausgrid's regulated network business. The Ausgrid relationship provides operational infrastructure, existing electrical grid connections, and industry expertise.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Tesla Energy: Developer and operator of Megapack-based grid-scale BESS globally, with Australian projects including the Victoria Big Battery (300MWh+). Comparable as a vertically integrated BESS developer; overlaps as both potential competitor and equipment supplier to PLUS Grid Storage.
• CWP Global: Australian renewables and battery storage developer with BESS projects across the NEM. Comparable as a developer-owner-operator focused on utility-scale storage in the same Australian geography and market.
• TagEnergy: Australian renewable energy and BESS developer with a GW-scale battery storage pipeline including the Riverina BESS in NSW. Closely comparable in size, strategy, and target market to PLUS Grid Storage's emerging developer profile.
• Neoen Australia: Australian arm of French-listed Neoen, developer and owner of large-scale renewables and battery storage including Western Downs (400MWh) and Bulgana. Comparable as a grid-scale BESS developer/owner-operator active in the NEM with utility-scale projects.
• Akaysha Energy: Blackstone-backed Australian battery energy storage developer with multiple large BESS projects under development, including the 1.4GWh Melbourne Renewable Energy Hub. Closest analogue to PLUS Grid Storage as a pure-play Australian BESS developer pursuing multi-hundred-MWh to GW-scale projects.
• Fluence: Global BESS integrator and project developer (joint venture between Siemens and AES) with deployments across Australia. Comparable as a grid-scale BESS solutions provider and developer; may also serve as a technology/EMS vendor to PLUS Grid Storage.

Broad incumbents

• Iberdrola Australia: Australian arm of global utility Iberdrola, developing large-scale renewable and storage projects. Comparable as a long-duration capital-backed grid-scale BESS developer in NSW/Australia, though embedded within a much larger global portfolio.
• AGL Energy: One of Australia's largest integrated energy companies developing significant BESS capacity (Loy Yang, multiple NEM projects) alongside its incumbent generation and retail businesses. Comparable as a grid-scale BESS developer/owner, though operating within a much broader portfolio.
• Origin Energy: Major Australian integrated energy company investing in large-scale battery storage (e.g., Mortlake, Darlington) as part of its generation transition strategy. Overlaps with PLUS Grid Storage's grid-scale BESS development focus but operates at much greater scale.
• EnergyAustralia: One of Australia's largest energy retailers and generators with significant announced BESS investments as part of its coal-to-renewables transition. Comparable as a large incumbent with NEM-scale storage ambitions competing for similar grid services revenue.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/plus-grid-storage

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

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 PLUS Grid Storage