Genex Selects Contractor for Initial Phase of Landmark Solar and Battery Project

Renewable energy and storage developer Genex Power has announced the selection of PCL Contractors as the preferred contractor for the first stage of Australia’s largest solar and battery storage complex on the main grid. The proposed Bulli Creek stage one solar farm, with a capacity of 775 MW, is set to become the largest solar project on the country’s main grid. The project, jointly owned with Japan’s J-Power, plans to expand to a total capacity of 2 GW of solar and battery storage in the state’s south.

Genex has also initiated the tender process for the first battery stage of the Bulli Creek project, which is currently planned to have a capacity of 400 MW and four hours of storage. However, the final size of the battery stage will depend on off-take discussions. The fate of the Gibson Island green hydrogen project, which had committed to purchasing half of the Bulli Creek project’s output, is still uncertain as Fortescue Metals has yet to make a commitment. A decision is expected by the end of this month.

Genex has been actively pursuing off-take agreements and conducting grid connection studies in collaboration with the state transmission company Powerlink. These factors will influence the final size of the project. In the December quarter, Genex earned $5.3 million in revenue from its operating solar farms at Kidston and Jemalong, as well as the newly connected Bouldercombe big battery. However, revenue from the solar projects decreased due to falling wholesale electricity prices.

The Kidston solar farm faced economic constraints when daytime electricity prices fell below zero, resulting in an average price of $54/MWh for the quarter. Jemalong, on the other hand, was able to navigate price volatility and earned an average of $79/MWh, with a significant portion coming from the sale of Large Scale Generation Certificates. The Bouldercombe battery, which became fully operational on December 12, earned $1.1 million in revenue during the few weeks it was operational, with an average net price of $311/MWh during evening peaks.

Giles Parkinson, founder and editor of Renew Economy, as well as the founder of One Step Off The Grid and founder/editor of The Driven, provided this information. With 40 years of experience in journalism, Giles is a former business and deputy editor of the Australian Financial Review.