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Research

Capacity Swap x Virtual Toll: A case study of offtake stacking in the NEM
Explainers

3 days ago

​As developers push to de-risk projects and investors hunt for predictable returns, the BESS offtake market in the NEM is evolving fast. Ampyr’s recently announced offtake stacking for its Bulabul battery - pairing a Zen Energy virtual toll with a capa...
Pricing and structuring a BESS offtake contract in the NEM
Explainers

30 Sep 2025

​Battery energy storage has rapidly become a cornerstone of Australia’s energy transition, but unlocking investment at scale requires more than just strong merchant fundamentals. A bankable offtake contract, such as a virtual toll, is increasingly cent...
The state of BESS offtakes in the NEM: Tolls, revenue swaps and PPAs
Explainers

16 Sep 2025

Offtake contracts provide battery owners the ability to lock in value from their assets over a longer timeframe than that available from the market. The owner receives some level of guaranteed revenue in exchange for some of the upside available from t...
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