Genex Power has entered into a 25-year solar power purchase agreement (PPA) for the up to 2GW Bulli Creek Solar and Battery Project with Fortescue.
The agreement provides for offtake of up to 337.5MW of solar energy and large-scale generation certificates from the BCS at a fixed nominal price over the 25-year period of the PPA.
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Fortescue intends to utilise the solar energy procured under the PPA for the operation of a green hydrogen and green ammonia facility in connection with its Gibson Island project.
Bulli Creek Solar project is being developed by Genex in partnership with Electric Power Development Co., Ltd (J-POWER), with Solar Choice Pty Ltd as a co-developer.
Genex acquired the up to 2GW Bulli Creek Battery and Solar Project in August 2022, initially envisioning a standalone battery energy storage system as a first stage for the project. However, securing this long term 25-year offtake agreement with Fortescue for 337.5MW of solar capacity at Bulli Creek has reshaped the first stage of the project into a large-scale solar farm.
The BCS will be followed by a battery energy storage system (BESS) stage of up to 400MW as previously announced, with the potential for further solar and/or BESS stages to follow up to the full 2GW capacity at the project site.
Genex CEO Craig Francis said, “Today’s announcement marks a major milestone, not only for Genex’s 2.25GW development portfolio, but also for the Australian energy transition to renewables.
“We are extremely pleased to be working with Fortescue and supporting their plans for a large-scale electrolysis plant at Gibson Island, which we anticipate will help pave the way for a significant and prosperous green hydrogen and ammonia industry in Australia.”
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Genex and J-POWER anticipate the agreement with Fortescue will underpin a solar farm capacity of 450MW, with the long-term nature of the agreement highly attractive for prospective project financiers. Discussions are continuing with external parties for further offtake to support a solar farm capacity of up to 775MW for this first stage of the project.
This would position the Bulli Creek Solar Farm as the largest solar farm connected to the National Electricity Market.
