PFI: Tesla in revenue guarantee for Bouldercombe battery

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.

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.