ASX-listed renewables developer Genex Power has signed an innovative 20-year deal for Tesla Motors Australia to operate its A$55m–$60m (US$39m–$43m) merchant Bouldercombe Battery in Queensland, while parent Tesla will provide a corporate guarantee for a minimum base revenue for the first eight years.
ABC: Elon Musk’s Tesla to back central Queensland battery project in Australian-first collaboration
US company Tesla has its sights set on central Queensland for an energy project and, in a first for Australia, will provide long-term financial support. Genex, the company behind the Bouldercombe battery project, says it also has contracts for Elon Musk’s Tesla to supply a large, 50-megawatt battery and will use their algorithm-powered bidding system to sell power.
RENEW ECONOMY: Genex strikes “world first” revenue sharing deal with Tesla for Queensland big battery
Listed renewable and storage developer Genex has struck a “world first” revenue deal with Tesla for its Bouldercombe big battery in Queensland, which will feature Tesla Megapacks and Tesla’s Autobidder technology.
THE MARKET HERALD: Genex Power signs offtake agreement with Tesla
Genex Power (GNX) pens an offtake agreement with Tesla Motors Australia for the Bouldercombe Battery Project in central Queensland. Under the agreement, Tesla will operate the project using its algorithm-based bidding system, Autobidder, which is designed to maximise the project’s revenue.
AFR: Energy storage a ‘game-changer’ on path to net zero by 2050
Neoen Australia chief executive Louis De Sambucy says utility-scale batteries will be the “game changer” to help Australia move towards net zero by 2050.
ENERGY STORAGE NEWS: Tesla Megapacks picked for Genex Power’s 50MW / 100MWh battery project in Queensland
After winning a competitive selection process, Tesla will supply 40 of its Megapack utility-scale battery energy storage systems (BESS) to a project by Australian renewable energy developer Genex Power.
RENEW ECONOMY: Genex picks Tesla Megapacks for 100MWh standalone battery in Queensland
Genex Power says will purchase 40 Tesla Megapack battery units for its 50MW/100MWh Bouldercombe big battery in Queensland.
RENEW ECONOMY: NSW is about to overtake the Sunshine State on large scale solar production
Queensland, the Sunshine State, is about to lose its mantle as the biggest state in Australia for the production ton of electricity from large scale solar.
PV MAGAZINE: Genex Power seizes the opportunities for renewable energy storage at the north end of the NEM
The first big battery to stand alone without government support, Bouldercombe Battery Project capitalises on Genex Power’s experience gained on the road to Kidston Clean Energy Hub.
THE MOTLEY FOOL: ASX shares and the $41 trillion climate change investment opportunity
Climate change is an issue front of mind for many these days. Even companies are now viewing it as a credible risk to our way of life. ASX shares are likely to be impacted by climate change, but it could also reap huge benefits for companies working towards net zero emissions.