Genex Power has signed an offtake settlement with Australian power large Stanwell Corp., supporting the event of the primary part of the 775 MW Bulli Creek photo voltaic and battery undertaking deliberate for southeast Queensland.
From pv journal Australia
Queensland state-owned energy firm Stanwell Corp. has signed a 15-year settlement to buy renewable power from Genex Power’s Bulli Creek undertaking, which is ready to grow to be Australia’s largest grid-connected photo voltaic farm.
Under the facility buy settlement (PPA), Stanwell will buy as much as 550 MW from the Bulli Creek first-stage photo voltaic undertaking, which is being developed about 150 km southwest of Toowoomba, Queensland.
The 775 MW first part is the preliminary part of a multi-stage improvement that features as much as 2 GW of photo voltaic and as much as 400 MW/1,600 MWh of battery power storage capability, together with undertaking, environmental and heritage planning. approval has been obtained. .
Genex CEO Craig Francis mentioned the corporate, which was acquired by Japanese utility J-Power in August in an AUD 380 million ($256.5 million) deal, was working in the direction of a remaining funding within the first part of the undertaking in Bulli Creek earlier than the top of 2024.
“The 15-year offtake settlement at Bulli Creek will allow Genex to progress the undertaking quickly to a remaining funding choice later this 12 months, delivering 775 MW of recent renewables power capability in Queensland from 2027,” he mentioned.
The Stanwell PPA is an efficient end result for Genex after an offtake take care of mining and power group Fortescue for as much as 337.5 MW of photo voltaic power from the Bulli Creek undertaking expired. Fortescue meant to make use of renewable power to energy the deliberate Gibson Island renewable hydrogen and inexperienced ammonia undertaking, however the firm has since had a change of focus.
The settlement with Stanwell additionally features a five-year operations and upkeep (O&M) contract for Genex’s 50 MW Kidston Solar Farm in north Queensland.
The contract is the second for the not too long ago launched subsidiary Stanwell Asset Maintenance Co. (SAMCo), which is able to present O&M companies for the working photo voltaic undertaking from December 2024.
For heavy coal Stanwell, the take care of Genex builds on its ambition to construct a portfolio of fresh power and storage initiatives throughout Queensland, serving to to ship its renewable targets. authorities power of 70% in 2032 and 80% in 2035.
“Our partnership with Genex is a key factor within the transformation of Stanwell’s portfolio and can facilitate the supply of our renewable power pipeline according to the Queensland Energy and Jobs Plan,” mentioned Stanwell CEO Michael O’ Rourke. “This new energy buy settlement is one other thrilling step in the direction of Stanwell’s goal of 9 to 10 GW of renewable power technology by 2035.”
Stanwell, which owns the 1,400 MW Tarong coal-fired energy station close to Kingaroy and the 1,445 MW Stanwell plant west of Rockhampton, mentioned it had acquired almost 4,000 MW of renewable power technology and firming capability of initiatives at the moment working, beneath development, or beneath improvement.
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