Genex looks to speed development of 1.6-gigawatt solar project in Australia

Renew Economy:

Renewable energy and storage developer Genex Power says foundations for its first big battery project are complete and awaiting the delivered of the Tesla Megapack batteries, as it looks to accelerate the solar component of an even bigger battery project in south west Queensland.

Genex is the owner of two operating solar farms in Queensland and NSW, but is looking to rapidly expand its portfolio in coming years with the addition of the Bouldercombe battery, the Kidston pumped hydro project, new wind and solar at Kidston, and the development of the Bulli Creek battery and solar precinct.

In a market briefing on Monday, Genex CFO Craig Francis said the concrete foundations for the 50MW/100MWh Bouldercombe battery have been finished, and the Tesla Megapack batteries are currently being shipped to Australia, and are due to arrive by the end of March.

The Bouldercombe battery will be the second utility scale battery to be opened in Queensland, after the bigger 100MW/150MWh Wandown South big battery that opened last year.

It is due to be switched on by the end of June and will result in a big lift in Genex revenues under a unique “fixed and floating” contract with Tesla that guarantees minimum returns and a share in the upside when the battery cashes in on volatile markets and price spike.

[Giles Parkinson]

More: Genex to fast-track 1.6GW solar project as foundations complete for first big battery