2 GW Solar & Storage Project Changes Hands

• Genex Power has acquired 100% stake from Solar Choice in Bulli Creek solar and storage project in Australia
• It will entail up to 2 GW capacity with phase I comprising 400 MW/1,600 MWh large scale battery energy storage system
• Under phase II, the company plans to realize up to 475 MW to 675 MW of solar PV capacity

Australian renewables company Genex Power Limited is to acquire 100% of 2 GW multi-stage Bulli Creek Clean Energy Project in Queensland from Solar Choice Pty Ltd, expanding its exposure to renewable energy storage and generation projects in the country.

The Bulli Creek project is currently at an advanced stage of development and is planned to be completed in 5 stages. Under phase I, Genex will prioritize to realize up to 400 MW/1,600 MWh large scale battery energy storage system calling it Bulli Creek Battery Project (BCBP). Genex said it is fast tracking the development of phase I and aims to reach a final investment decision in H2/CY2024.

Under phase II, it proposes to bring online between 475 MW to 675 MW of solar PV capacity to 'benefit from shared grid connection infrastructure with the BCBP, with subsequent solar stages proposed to build out the full land capacity of the project in due course'.

The project enjoys proximity to the load center of Brisbane and is located around 4 km from the Powerlink Queensland Bulli Creeak 330kV substation. This ensures low connection cost for the project. The company will receive a development fee at financial close for each stage of the project.

Genex said it is in advanced discussion with potential joint development partners for the project that has secured development planning approval, Environmental Protection Biodiversity and Conservation Approval and Aboriginal Cultural Heritage clearances over the entirety of the Project site.

"The Bulli Creek Battery Project is a continuation of our battery strategy and will be one of the largest battery energy storage systems in the National Electricity Market (NEM)," said Genex CEO James Harding. "This represents an exciting opportunity for Genex to apply the extensive market knowledge and learnings gained from the development of the Kidston Pumped Storage Hydro Project as well as the Bouldercombe Battery Project."

Solar Choice started developing the project in 2013 and purchased an additional 75% stake from then partner First Solar in June 2021. It then launched a search for a new major investor, picking Genex in the end.