Genex nabs new PPA for 775-MW solar project in Queensland

Genex, now part of Japanese utility Electric Power Development Co Ltd (TYO:9513), has secured Queensland state-owned utility Stanwell Corporation as the offtaker for the up to 775-MW Stage 1 of its Bulli Creek solar and battery project.

Stanwell Corp announced the signing of a 15-year power purchase agreement (PPA) on Sunday. The state energy group, which aims to have up to 10 GW of renewables in its portfolio by 2035, has committed to procure up to 550 MW from the project.

The Bulli Creek Stage 1 Solar Farm will be built as part of the up-to-2-GW Bulli Creek solar and battery project that is being developed by Genex and its parent J-Power in Queensland’s Western Downs region.

A final investment decision is expected to be taken in the second half of this year, with first power set to be generated in 2027. Last year, Genex secured a PPA for 337.5 MW of the expected output with Fortescue Metals Group, while this deal with the iron ore giant has allegedly fell through.

Stanwell Asset Maintenance Company (SAMCo) has also sealed a five-year contract to deliver operations and maintenance (O&M) services for Genex’s 50-MW Kidston solar park in Far North Queensland. A similar deal is being considered for the Bulli Creek site as well, Stanwell said.

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