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.
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.
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.
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.
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.
The Sydney-based power generator said on Friday it has sealed a supply agreement with Tesla Motors Australia Pty Ltd after choosing it as preferred battery supplier.
Genex Power says will purchase 40 Tesla Megapack battery units for its 50MW/100MWh Bouldercombe big battery in Queensland.
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.
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.
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.