Genex Power Ltd (ASX:GNX) Receives GPS Approval from AEMO for Bouldercombe Project

Genex Power Limited (ASX:GNX) is pleased to announce that the Australian Energy Market Operator (AEMO) has completed its assessment of the Generator Performance Standards (GPS) for the 50MW/100MWh Bouldercombe Battery Project (BBP or the Project) and has issued their GPS approval for the Project by way of providing a letter pursuant to clause 5.3.4A and 5.3.4B of the National Electricity Rules.

AEMO, via the transmission network service provider Powerlink Queensland (Powerlink), has determined that the Project can operate in accordance with the required electricity standards of the National Electricity Market. The Project will provide a number of network benefits to the Queensland grid, notably, via the provision of Frequency Control Ancillary Services.

The GPS approval is one of the most complex and significant milestones for the Project. AEMO, Powerlink and Genex have been working closely together over the past 12 months to complete the detailed submission process, and the GPS approval clears the final technical milestone before financial close.

Commenting on receiving GPS approval, James Harding, Genex Chief Executive Officer stated: "We are extremely pleased to have received the Generator Performance Standard approval from AEMO. I would like to thank AEMO and Powerlink for the cooperation and coordinated approach over the past few months in negotiating the performance standards for the Bouldercombe Battery Project which has allowed Genex to reach this significant milestone. Bouldercombe is set to be one of the first standalone large-scale Battery Energy Storage Systems to be connected into the Queensland network, and will provide much needed load shifting and ancillary services."


About Genex Power Ltd

Genex Power Limited is focused on developing a portfolio of renewable energy generation and storage projects across Australia. The Company's flagship Kidston Clean Energy Hub, located in north Queensland, will integrate large-scale solar generation with pumped storage hydro. The Kidston Clean Energy Hub is comprised of the operating 50MW stage 1 Solar Project (KS1) and the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) with potential for further multi-stage wind and solar projects. The 50MW Jemalong Solar Project (JSP) is located in NSW and provides geographical diversification to the Genex Power Limited portfolio. JSP was energised in early December 2020 and commissioning is now underway. Genex is further developing its energy storage portfolio via the early stage development of a 50MW/75MWh standalone battery energy storage system at Bouldercombe in Queensland. With over 400MW of renewable energy and storage projects in development, Genex is well placed as Australia's leading renewable energy and storage company.

    

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