MELBOURNE, Aug 10 (Reuters) – Australia’s Genex Power
, which last week rejected a takeover offer, said on
Tuesday it has agreed to acquire development rights to a
large-scale battery and solar farm project it hopes to start
building in late 2024.
Genex did not disclose the price it paid private firm Solar
Choice for the rights to develop what could eventually be a 2
gigawatt (GW) energy storage project, to be built in five
stages, at Bulli Creek in the state of Queensland.
Chief Executive Officer James Harding told Reuters the
pricetag was in line with standard market terms, without
elaborating.
The first stage is a proposed 400 megawatt/1,600 megawatt
hour (MWh) battery energy storage project, which would add to
Genex’s pumped hydro project and another, much smaller battery
project under construction.
“We have commenced…
Takeover target Genex beefs up energy storage prospects
