Genex Power Limited (ASX: GNX) has reached a key milestone in the construction of the 50MW/100MWh Bouldercombe Battery Project (BPP).
The BBP is located near Rockhampton, Queensland and once operating will be one of the first large scale battery energy storage systems in Queensland, further diversifying Genex’s portfolio of renewable energy and storage assets.
Key Milestone – Tesla Megapack Units Arrive
Genex has advised that all 40 Tesla Megapack units have arrived at the Project site. Reaching this major Project milestone significantly de-risks the overall construction schedule and represents the final piece of key equipment to arrive at the Project.
Upcoming Activities
Key work activities at site will now focus on preparing the Project for commissioning, including:
The Project remains on track for first energisation by H2 CY2023.
Background
The Bouldercombe Battery Project utilises Tesla Megapack battery technology. The Project comprises of 40 Tesla Megapack units which are an all-in-one utility scale storage system shipped from Tesla’s Gigafactory in Nevada, USA. Tesla will operate the Project using its proprietary algorithm-based bidding system, Autobidder, to maximise revenues on a yearly basis.
Further to this, Tesla, under the Autobidder Offtake Agreement with Genex, will provide a minimum level of contracted revenues. Importantly, the Agreement delivers the ability to capture revenue from a fixed guaranteed amount to ensure that Genex participates in the revenue upside from significant pricing events.