Engie strikes ‘Australian first’ virtual battery deal with AGL

ENGIE and AGL ink firm 100% virtual storage deal

ENGIE Australia and AGL Energy have signed an innovative firm 100% virtual storage agreement—the first for ENGIE in Australia. Related article: AGL makes final investment decision on Tomago Battery ENGIE ANZ supply and energy management head of origination Tiburce Blanchy said, “This is a landmark agreement and a milestone for our business and the Australian energy landscape. “Starting in 2027, this purchase of a five-year, derivatives-only agre…

Engie strikes ‘Australian first’ virtual battery deal with AGL

French-owned energy group Engie’s Australian division has added a new “virtual battery” agreement to its portfolio, signing a deal with AGL that will allow for the buying and selling of stored energy without a link to any particular physical asset.Engie Australia has signed a “firm virtual storage agreement” with energy generating and retailing major AGL that allows for the financial trading of a virtual two-hour battery energy storage system (B…