Genex Power Limited has achieved energisation for the 50MW/100MWh Bouldercombe Battery Project (BBP), located near Rockhampton, Queensland. The milestone enables the project to begin the commissioning phase ahead of full operations commencing.
Genex partners Powerlink, Consolidated Power Projects and Tesla Motors Australia Pty Ltd have concluded the tasks required to allow the commissioning phase of the project to commence, including successful energisation of the Powerlink transformer and high voltage balance of plant components and initial energisation of the Megapack units.
The commissioning phase will be completed over the coming months to ensure it is fully operational ahead of the peak demand summer season. Genex will receive revenues from the project during this phase.
Following completion of commissioning, the project will be operated under the Autobidder Offtake Agreement with Tesla.
Under this Agreement, Tesla will operate the plant to maximise revenues in the energy arbitrage and frequency control ancillary services markets, while providing a guaranteed minimum level of revenues.
The upside above this minimum level is largely captured by Genex with a portion shared with Tesla to align incentives between the parties. This ensures that Genex directly participates in the revenue upside from significant volatility and wholesale market pricing events.
Energisation of the BBP is a significant achievement for Genex, delivering the company’s first largescale Battery Energy Storage System.
The project is one of the first large-scale battery energy storage systems to be connected in Queensland and will store and supply up to 35,200MWh per annum.
The BBP will also provide the required ancillary services to support the security and reliability of the Queensland grid, while boosting the company’s existing revenue, earnings and cash flow.
