- Genex Power signs deal for 2GW battery-plus-solar project in Queensland.
Australian renewable energy developer, Genex Power Ltd, has signed a deal to own up to a 2-GW battery-plus-solar project in Queensland.
Australia-based Solar Choice Pty Ltd is selling the massive Bulli Creek project; the buyer said in a bourse filing on Wednesday without providing financial details on the planned transaction. Bulli Creek proposes deploying solar photovoltaic (PV) panels and batteries in five phases across a land area of over 5,000 ha, some 100 km southwest of Toowoomba. The first stage of the development will be a 400-MW/1,600-MWh energy storage facility, plans for which Genex will fast-tracked so as to take a final investment decision in the second half of 2024.
The second phase will install between 475 MW and 675 MW of solar PV panels, while additional capacity will be built in the subsequent stages.
According to the arrangement, Solar Choice will perform “certain development services” and receive a development fee at financial close for each stage. Genex, which is currently building the 50-MW/100-MWh Bouldercombe battery in Queensland, said it is holding talks with potential joint development partners to provide cash and equity for the vast project.