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InCommodities signs $200 million battery agreement with Vena Group during royal visit

The Danish energy trader’s new deal brings the company’s total local commitment to $500 million, as it expands its Australian energy footprint.

Harshdeep Kaur
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Andrew Koscharsky, InCommodities Head of Australia, and country head of Vena Group Owen Sela with Their Majesties. Supplied.

Andrew Koscharsky did not expect working in energy trading would require him to brush up on royal protocol.

But the head of power trading for Australia and New Zealand at InCommodities has spent the past week googling exactly how to do that ahead of the Danish royal state visit to Australia.

The Danish energy trading company, which operates across Europe, North America and the Asia-Pacific and posted a profit of EUR114 million ($185 million) in 2024, has signed a $200 million long-term battery storage agreement with Vena Group, a green solutions provider.

The agreement was formalised on Wednesday in the presence of King Frederik X of Denmark and Queen Mary, reflecting the deepening relationship between the two countries in renewable energy.