Australia’s Genex Power Ltd (ASX:GNX) has ordered Tesla Megapack batteries for its 50-MW/100-MWh Bouldercombe energy storage system in North Queensland.
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 and integrator for the scheme following a competitive tender process.
Meanwhile, work is progressing to take a final investment decision (FID) and reach financial close on the project in the coming months. Talks with preferred lenders are being held so as to achieve financial closing either in the last quarter of 2021 or the first trimester of 2022, the developer said.
Genex Power will purchase 40 units Tesla Megapack lithium-ion batteries for the Bouldercombe site. The facility will operate on the markets for energy arbitrage and Frequency Control Ancillary Services (FCAS) after it begins operations in the first half of 2023.
Bouldercombe is Genex’s first large-scale energy storage scheme and is part of its “Como battery strategy” that will see it deploy more similar projects.