BESS · Vena Energy Services (Australia) Pty Ltd · Storage - Battery
03 Jun 2026 19:25 → 04 Jun 2026 19:25 AEST
| Capex total (greenfield) |
$470.83M
Shown in table How this was derived Reference |
|---|---|
| Capex refurbishment |
—
|
| Capex / MWh storage |
$577,000
Shown in table How this was derived Reference |
| Fixed OPEX (annual) |
$3.26M
Shown in table How this was derived Reference |
| Fixed OPEX / MW-yr |
$8,000
Shown in table How this was derived Reference |
| Variable OPEX / MWh |
$0.00
Shown in table |
| Fuel cost / GJ |
$0.00
Shown in table How this was derived Reference |
| Heat rate GJ/MWh |
—
How this was derived Reference |
Confidence: medium · Status: ai estimated · Capex basis: estimated · AI checked 04 Jun 2026
Notes
No specific financial data found for the Belhaven Renewable Project. Default estimates will be applied based on industry norms.
Belhaven-specific reported total capex was not found beyond the NSW State Significant Development threshold that capital investment value exceeds AUD 30 million. The capex entered is an estimate using Aurecon/AEMO 2024 2-hour large-scale lithium-ion BESS EPC cost parameters with a dedicated grid connection, scaled to the user-provided 408 MW / 816 MWh configuration: AUD 526/kW power component plus AUD 314/kWh energy component = AUD 470.832 million. This is an EPC/construction-cost estimate and may exclude owner’s costs, financing, contingency beyond the benchmark, augmentation, and final procurement outcomes. Fixed O&M is from the same Aurecon/AEMO 2-hour BESS benchmark excluding extended battery warranties; adding the listed 20-year LFP extended warranty allowance of AUD 5,300/MW-year would increase annual fixed-like costs to about AUD 5.426 million/year. Variable O&M is treated as AUD 0/MWh because Aurecon reports no separate variable O&M for BESS and notes long-term service agreements are not typically split into fixed/variable. Efficiency is round-trip efficiency at beginning of life, not thermal efficiency. Direct operational emissions are assumed zero for battery discharge; lifecycle and charging-energy emissions are excluded. Vena’s current public Belhaven page states 400 MW and up to 3,985 MWh, while the 2023 scoping report states approximately 400 MW / 800 MWh and the user supplied 408 MW / 816 MWh; this discrepancy requires review before financial close modelling. Current Vena page states the project remains in development, DA expected Q2 2026 and construction anticipated Q2/Q3 2027 subject to approval; older 2023 scoping timing of 2025-2026 construction and 2026-2046 operation appears superseded.
No project-specific full capex, O&M contract, OEM, financing, or DUID was found in public sources. The capex estimate is not reported Belhaven capex: it is derived from Aurecon/AEMO 2024 Energy Technology Cost and Technical Parameter Review values for a 2-hour, 200 MW large-scale lithium-ion BESS with dedicated grid connection, scaled linearly to the user-provided 408 MW / 816 MWh configuration. Formula used: AUD 526/kW power component x 408,000 kW + AUD 314/kWh energy component x 816,000 kWh + land/development AUD 10m x 408/200 = AUD 491.232m. Fixed O&M uses Aurecon 2-hour BESS fixed O&M AUD 8,000/MW-year plus 20-year extended warranty allowance AUD 5,300/MW-year = AUD 13,300/MW-year, scaled to 408 MW. Variable O&M is left null because Aurecon states BESS long-term service agreements are not typically based on fixed/variable O&M. Direct operational emissions intensity is set to 0 tCO2/MWh for the battery discharge asset only; lifecycle and charging-energy emissions depend on charging source and dispatch. There is a material capacity inconsistency: the user/NEM listing describes Belhaven Renewable Project as 408 MW / 816 MWh, Vena's current project page describes Belhaven BESS as 400 MW capable of storing up to 3,985 MWh, the NSW Planning Portal currently shows 400 MW / 3,985 MWh, while the 2023 scoping report described 400 MW / 800 MWh. The current Vena page says development application expected in Q2 2026 and construction anticipated in Q2/Q3 2027, so the earlier 2023 scoping report's 2025-2026 construction / 2026-2046 operation timing appears superseded.
No generator-specific reported capex or financing announcement was found for Belhaven. The capex estimate uses CSIRO GenCost 2024-25 / Aurecon 2024-25 large-scale 2-hour lithium-ion BESS current cost of AUD 608,000/MWh, applied to the user-specified 816 MWh storage capacity: 816 * 608,000 = AUD 496.128 million. This is consistent with AUD 1.216 million/MW for a 2-hour battery. Fixed O&M uses Aurecon's 2-hour BESS fixed O&M value of AUD 8,000/MW-year applied to 408 MW. Extended warranties for 20-year LFP battery life are excluded from the fixed O&M field but Aurecon indicates an additional AUD 5,300/MW-year, giving a fixed O&M plus warranty total of AUD 13,300/MW-year if included. The project is still in development: Vena's current project page states the Belhaven BESS is at development stage and anticipates construction in Q2/Q3 2027, subject to approval. There is a capacity inconsistency across sources: the user/NEMStats record lists 408 MW / 816 MWh, Vena's general projects page and the 2023 scoping report refer to about 400 MW / 800 MWh or 2 hours, while Vena's current Belhaven page states 400 MW and up to 3,985 MWh. Financial estimates here are therefore based on the requested 408 MW / 816 MWh generator definition and should be revised if the latest 3,985 MWh configuration becomes the committed project scope. Direct operational emissions are treated as 0 tCO2/MWh for the battery asset itself; lifecycle and charging-energy emissions are excluded.
Belhaven-specific technical, planning, operating-life and maintenance descriptions were found in Vena Energy/NSW planning documents, but no generator-specific final investment decision, EPC price, financing announcement, O&M contract, revenue agreement or fuel contract was found. Capex is therefore estimated from Aurecon/AEMO 2024 large-scale 2-hour lithium-ion BESS cost parameters: dedicated-grid-connection 2-hour BESS power component AUD 526/kW plus energy component AUD 314/kWh, applied to 408 MW / 816 MWh, plus AUD 10.0 million land/development allowance. Base fixed O&M from Aurecon is AUD 8,000/MW-year excluding extended warranties; the profile uses AUD 13,300/MW-year including AUD 5,300/MW-year indicative 20-year LFP battery extended warranty because battery augmentation/warranty is material over a 20-year life. Variable O&M is set to zero because Aurecon states BESS long-term service agreements are not typically fixed/variable and lists variable O&M as blank. Direct operational emissions intensity is treated as 0 tCO2/MWh for storage discharge; lifecycle, construction, fire-event and charging-market emissions are excluded. Capacity sources conflict: NSW planning/scoping documents describe about 400 MW / 800 MWh; NEMStats records 408/816 MW; Vena's current project page says 400 MW and up to 3,985 MWh. The estimate above follows the generator record supplied by the user and NEMStats (408 MW / 816 MWh). If the currently advertised 3,985 MWh configuration is used, the capex estimate would be materially higher. Current Vena page indicates DA expected Q2 2026 and construction Q2/Q3 2027, superseding the 2023 scoping report's older indicative 2025-2026 construction and 2026-2046 operation schedule.