Project Update Week ending 25 September 2020

Yates Electrical secures multi- million dollar investment for regional SA 21 September Based in the Riverland of South Australia, renewable energy asset developer, operator Yates Electrical Services (YES GROUP) have and retailer - is a strong fit considering the been providing high quality construction shared philosophy on risk, safety, quality and services to the renewable energy sector since environment and social values. 2004. Established by Riverland local Mark Yates, the company has been instrumental in Saji Anantakrishnan, Whitehelm’s Head of the development of numerous renewable Australia and Asia, on behalf of SEI’s high-voltage projects across Australia, unitholders, said “We look forward to working including high voltage substation construction with Mark Yates and YES Group to deliver a and wind and solar farm project development. portfolio of efficient energy solutions with a Over the last 5 years, YES Group has strong focus on sustainability and supporting developed and constructed over 80 solar local communities, consistent with SEI and farms in the sub 5MW market, managing Whitehelm Capital’s approach to responsible 100% of the renewable energy generation investment. offtake into the National Electricity Market through its YES Energy Retail business. “The partnership between SEI and YES Group is typical of our mid-market infrastructure It is with a continued focus on providing these strategy, which focuses on building long-term high quality solutions that YES Group have complementary partnerships with now entered into a long-term agreement with experienced industry counterparties to ensure Sustainable Energy Infrastructure (SEI) to strong value creation through an identified develop, own, operate, maintain and manage pipeline of growth opportunities.” the energy sales for a platform of mid-large scale solar farm projects in regional Australia. Mark Yates, Managing Director YES Group, The first phase of this undertaking will see SEI said “We are thrilled to be partnering with SEI and YES Group developing up to 20MW of to build and operate a portfolio of distributed new solar farms within the next 18 months solar assets across regional Australia. This deal across South Australia and Victoria, with the is right in the sweet spot for YES Group, first two projects in South Australia expected leveraging our high-voltage and construction to commence construction this calendar year. expertise along with our YES Energy capability to manage the sale of energy, ultimately SEI - managed by Whitehelm Capital on behalf through to the end consumers. This is an of a consortium of Australian superannuation exciting long-term strategic relationship with funds - recognises the value of developing and great potential as the energy market providing sustainable energy solutions across continues to evolve through its transition to regional Australia. This long-term partnership renewables. between SEI and YES Group - an established

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“We share SEI’s commitment to local The projects are being delivered by Horizon communities and welcome both the job Power as part of the McGowan Government's creation and job certainty which is WA Recovery Plan. underpinned by this investment.” Works at Derby Hospital include installing 550 The first projects to commence include a kilowatts peak (kWp) of rooftop solar 4MW site in Renmark and a 2MW together with a 275 kilowatt-hour renewable development in Bowmans, both of which energy smoothing battery. already have development approval, allowing works on the sites to begin immediately. Additionally, 310 kWp of rooftop solar will be Source: Yates Electrical Services installed across the Shire of Derby's community buildings.

PROJECT NEWS Around 827 conventional streetlights will be Batchelor 2 Solar Farm upgraded to energy efficient smart LED units, spanning 10 kilometres from Derby to the Piles installed at Merricks Capital’s 12.5 MW Aboriginal community of Mowanjum. DC/10 MW AC Batchelor Solar Farm project located 100km from Darwin. SwitchCo Horizon Power's new streetlight technology Projects are the Owner’s Engineer on behalf will enable the service provider to identify of BE Power Services and Merricks Capital and outages in real time and remove the need to are working closely with the EPC Contractor, carry out routine inspections. BSR EPC, to deliver the project. This solar farm consists of a NEXTracker single axis tracking The combined projects will reduce system with Jinko modules and 2x SMA MVPS greenhouse gas emissions by more than 900 skids connected to the 22kV PWC network at tonnes per year, save the Shire of Derby Batchelor. $170,697 annually, and reduce evening crime

by 10 per cent. Source: SwitchCo

Derby Hospital will benefit from more than $590,000 in annual energy supply and Renewable energy solutions consumption savings. making a difference in Derby These renewable energy solutions will also 21 September result in a reduction to total greenhouse gas - $5.2 million in renewable energy upgrades emissions of around 460 tonnes annually - the for Derby Hospital and Shire of Derby equivalent of taking 100 cars off the road - Upgrade of 827 LED streetlights to reduce local crime by 10 per cent More than 10 local jobs will be created during - Another important piece of the State's procurement and construction. transition towards a low carbon future

Comments attributed to Premier Mark Premier Mark McGowan today announced in McGowan: Derby that the town will receive $5.2 million "It is pleasing to see examples of projects like worth of renewable energy projects, which these that will tangibly improve the quality of will reduce energy costs and greenhouse gas life, local amenity and community service emissions, as well as seek to reduce night provision for people in the Shire of Derby. time crime and traffic incidents through better lighting. "This project forms part of the $5.5 billion WA

Recovery Plan which will help drive economic

Page 2 (Click on relevant project links to go to online Project Database) and social recovery across our State, and Solar farm plans progress to create a pipeline of jobs for Western Australians. next stage 21 September "A key component of our Kimberley Recovery Nillumbik Shire Council has moved a step Plan is to invest in renewable energy closer to its aim of developing a solar farm on initiatives that will support the Kimberley the former Plenty landfill site after awarding region and remote communities, and improve the tender for its development and operation reliability and efficiency to these areas - and to renewable energy project company LMS help lower energy costs." Energy Pty Ltd.

Comments attributed to Energy Minister Bill At its Ordinary Meeting of Council on 15 Johnston: September, Council voted to proceed with "These projects are delivering on the plans to develop the solar farm at the site, in McGowan Government's commitment to a Yan Yean Rd, Plenty. renewable energy future and improving energy affordability in Western Australia. The decision follows a public Request For Tender (RFT) and community consultation "They will reduce greenhouse gas emissions process. and help the town lower its electricity bills, which is a significant issue for our remote Council and LMS Energy will now commence northern communities. further community consultation and engagement to inform the design phase of the "I commend the Shire of Derby for committing project. to reinvest its $170,000 of annual savings back into local youth programs, including extending Under the scope of the agreement, the solar operating hours at the Derby Youth Centre to farm will initially supply electrical power to midnight." Council’s corporate buildings, including the Civic Centre and street lighting as part of a Comments attributed to Kimberley MLA Josie phased approach under a power purchasing Farrer: agreement. "Our health and community services are important facilities in Derby so I welcome this LMS is responsible for the cost of developing investment which is about making energy and maintaining the solar farm. more affordable, reliable and the savings made can be used to further improve and Council will purchase fixed-priced electricity provide more services. through the term of the Power Purchase Agreement which will achieve cost savings "It's vital our Kimberley towns continue to compared with business-as-usual. benefit from important upgrades and infrastructure works that benefit the residents This phased approach provides further and help attract visitors - while creating jobs opportunities to increase the size and output in the regions." of the solar farm to supply other sources, such as Council’s tenanted buildings, the Source: WA Government community and local businesses – dependant on demand and commitments.

The phased approach will also provide future considerations in relation to potential community investment opportunities as well as future battery storage solutions.

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It is estimated that construction will Genex battery project update commence in 2023, upon completion of all 22 September community consultation, design, permit Highlights application and site remediation requirements. • Genex has secured an agreement with

Powerlink to access land adjacent to Nillumbik Mayor Karen Egan said the solar Powerlink’s Bouldercombe 275kV/132kV farm would form a key component of substation for the Bouldercombe Battery Council’s commitment to practical and very Project near Rockhampton, Queensland; local emission reduction. • The Project is expected to be sized at an

initial 50/75MWh and is expected to be the “This initiative will contribute significantly to first standalone large-scale battery storage helping Council reduce its greenhouse gas project in Queensland; emissions. It will be integral to Council’s • Genex has selected its preferred battery efforts to achieve meaningful and measurable supplier and integrator for the Project, which emission reduction,” said Cr Egan. facilitates the commencement of the grid

connection process; and “It is also a practical use of a former landfill • The development of the Bouldercombe site for which there would otherwise be Battery Project further diversifies the limited options and, critically, it offers the Company’s portfolio and positions Genex as a opportunity to deliver cost savings to Council leader in renewable energy generation and and ratepayers.” storage in the Australian market.

Sustainability Committee Chair Cr Jane Ashton Genex Power Limited (ASX:GNX) (Genex or said the project would see Council exceed Company) is pleased to announce that it has national renewable energy targets. signed an Investigation Licence and Tenure

Arrangement Agreement (Agreement) with “This solar farm project means Council will go Powerlink Queensland (Powerlink) in relation beyond simple compliance with the to a standalone large scale battery energy Commonwealth’s renewable energy targets. storage system (BESS) project, to be located Upon completion Council-owned sites will at Bouldercombe, near Rockhampton in North purchase 100 per cent renewable energy – a Queensland (Bouldercombe Battery Project, great outcome for the environment, Council Project or BBP). The Bouldercombe Battery and the community," Cr Ashton said. Project is intended to be the first large scale

BESS project as part of Genex’s Project Como Blue Lake Ward Councillor Grant Brooker said strategy, which was detailed in the Company’s that establishing the solar farm would achieve Corporate Presentation announced on 3 important aims. August 2020.

“Through the solar farm project, Council will Overview of the Bouldercombe Battery lower emissions and lower energy costs, as Project well as make an important contribution to the The selection of suitable sites for Genex’s first development of new, renewable energy in large-scale BESS project in Queensland was Victoria, thereby putting Nillumbik ahead on premised upon being located within close some key measures.” proximity to existing transmission

infrastructure with good network strength LMS Energy will lease the land at the and Marginal Loss Factor profiles. Following decommissioned Plenty landfill site for the life an extensive search and selection process, the of the project – estimated to be up to 30 Bouldercombe site was identified as an ideal years. location for the Company’s first large scale

BESS project. Source: Nillumbik Shire Council

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The Project is intended to be sized at an initial dated 18 December 2018), and subsequently 50MW/75MWh (1.5hr storage depth), which the binding Energy Storage Services will connect into the 132kV bays of the Agreement (ESSA) in March 2020 (refer ASX existing Powerlink 275kV/132kV Announcement dated 30 March 2020), Genex Bouldercombe substation. The Project is has sought to gain greater exposure to the intended to operate on an arbitrage/FCAS economics of energy storage in Queensland. revenue model with the ability to bid into all The development of a large-scale BESS in eight FCAS markets. This strategy has been North Queensland is predicated upon Genex founded on the basis of extensive market capturing a larger proportion of the studies undertaken by Genex with its market underlying arbitrage and Frequency Control consultants. Ancillary Services (FCAS) revenue streams, in contrast to the fixed revenue structure of the Following today’s signing of the Agreement ESSA for K2-Hydro. with Powerlink, Genex is intending to fast track the development of the Project and will The selection of suitable sites for Genex’s first be seeking for the BBP to be operational in H1 large-scale BESS project in Queensland was CY2022, to further bolster the Company’s premised upon being located within close revenues and cash flows. proximity to existing transmission infrastructure with good network strength Details of the Powerlink Agreement and Marginal Loss Factor profiles. Following As the Project is to be located on Powerlink an extensive search and selection process, the land adjacent to the Bouldercombe Bouldercombe site was identified as an ideal 275kV/132kV substation, the execution of the location for the Company’s first large scale Agreement with Powerlink is a key step in the BESS project. process to secure land tenure rights for the site. Land access will be conditional upon Selection of Preferred Battery Supplier and execution of the Connection and Access Integrator Agreement on terms negotiated between Following the completion of a competitive Genex and Powerlink. In addition, the signing tender process, the Company is pleased to of the Agreement illustrates a commitment confirm that it has selected its preferred from Genex to award Powerlink the contract battery supplier and integrator for the for non-contestable and contestable Bouldercombe Battery Project. connection works for the Project. The selection of a preferred supplier and Background – Storage Strategy in North integrator is critical for the development Queensland program of the Project, as it will now permit As part of the development of the Kidston the commencement of the grid connection Pumped Storage Hydro (K2-Hydro) project, process with Powerlink. To this end, Genex Genex has gained a robust understanding of will be working with its preferred supplier and the business case for energy storage in grid connection consultants to complete the Queensland, driven increasingly by the connection studies for the BBP. ongoing penetration of rooftop solar. This rate of penetration is anticipated to continue Commenting on the announcement, Genex and importantly, is likely to result in an CEO, James Harding stated: accentuation of the ‘duck curve’ already “Genex is pleased to have signed this observed in energy demand and prices in Agreement with Powerlink in relation to the Queensland. proposed 50MW/75MWh battery energy storage system project at Bouldercombe. The Following the signing of the initial term sheet Bouldercombe Battery Project is the first large with EnergyAustralia Pty Ltd for K2-Hydro in scale battery project as part of our Project December 2018 (refer ASX Announcement Como strategy to broaden our footprint in

Page 5 (Click on relevant project links to go to online Project Database) energy storage. This represents an exciting Coles lets the Qld sunshine in opportunity for us to apply the extensive 22 September market knowledge we have gained from Queensland sunshine and breezes will be developing the Kidston Pumped Storage helping power your local Coles store from Hydro Project towards broadening and 2022. diversifying our storage portfolio, and to capture a significantly enhanced revenue Energy Minister Dr Anthony Lynham today generation profile. Following an extensive announced that publicly-owned generator search and selection process, the and retailer CleanCo had sealed a 10-year deal Bouldercombe site presents the ideal location with Coles to purchase enough electricity to for the Project and we are pleased to have power more than 90 per cent of its secured access to it under this Agreement Queensland sites from July 2022. with Powerlink. The appointment of a preferred battery system supplier now allows “Queensland has an economic plan for post- us to commence the grid connection process COVID recovery and affordable, reliable which is on the critical development path for energy supply underpins that plan,” he said. the Project.

“Affordable reliable energy is critical to Achieving financial close of the Company’s business and industry, and their capacity to flagship Kidston Pumped Storage Hydro create jobs. Project continues to remain our top priority, alongside the successful delivery of the 50MW “That’s why the government is investing in Jemalong Solar Project. The combination of initiatives like our $500 million renewable these near-term projects, together with our energy fund that will allow our publicly- existing 50MW Kidston Solar Project and now owned generators, including CleanCo, to the development of the standalone invest and drive more renewable energy 50MW/75MWh Bouldercombe Battery generation. Project, will serve to position the Company as one of the Australian market leaders in “Under this agreement, wind and solar energy renewables and energy storage.” generated on Queensland’s Southern Downs

and Western Downs will be powering Coles Source: Genex Power supermarkets and other retail outlets right

across the Sunshine State.”

NEW PROJECT CEO Steven Cain said the significant increase Woods Point Solar Farm in renewable energy is a major part of Coles’ Location: Woods Point, South Australia commitment to be Australia’s most Capacity: 4.98 MW sustainable supermarket. Developer: Tetris Energy Expected cost: $850,000 “We are thrilled that with these agreements, Status: Development approvals granted Coles can make a significant contribution to Description: Ground-mounted solar farm with the growth of renewable energy supply in associated infrastructure. Australia, as well as to the communities we Contact: Frank Boland serve.” Director Tetris Energy “We have already made changes throughout Tel: (03) 9448 9400 our business to use energy more efficiently, Email: [email protected] which has enabled us to reduce our greenhouse gas emissions by 36.5 per cent since 2009, while growing our team member base and store network.”

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The long-term agreement commences on 1 Technology-led plan to lower July 2022 and is backed by solar power from Neoen’s Western Downs Green Power Hub emissions, lower costs and and wind power from Acciona’s MacIntyre support jobs . CleanCo is buying 400 megawatts 22 September of new renewable energy from ACCIONA’s The Morrison Government is committed to Macintyre wind farm, as well as building its investing in the next generation of energy own adjoining 102 megawatt Karara wind technologies that will deliver lower emissions, farm. lower costs and more jobs.

CleanCo’s involvement in the MacIntyre Today, Minister for Energy and Emissions Precinct has nearly doubled the size and Reduction Angus Taylor released the capacity of the 1026 megawatt precinct, Government’s first Low Emissions Technology which will start supplying energy to the grid in Statement. 2024. The release of the Statement is the first CleanCo CEO Dr Maia Schweizer said that milestone in Australia’s Technology providing competitively-priced clean energy Investment Roadmap. to Coles allows CleanCo to create growth and jobs in south-west Queensland associated The Statement outlines five priority with its 2025 goal of 1000 MW of new technologies and economic stretch goals to renewable generation. make new technologies as cost-effective as existing technologies. These are: “We are proud to partner with Coles and • Hydrogen production under $2 per provide renewables-backed power for its kilogram. Queensland sites under one contract.” • Long duration energy storage (6-8 hours or more) dispatched at less than $100 per Source: Queensland Government MWh – this will enable reliable, firmed wind and solar at prices around the average wholesale electricity price of NEW PROJECT today. Eliza Jane Solar Farm • Low carbon materials – low emissions Location: Renmark, South Australia steel production under $900 per tonne, Capacity: 4.98 MW low emissions aluminium under $2,700 Developer: Akuo Energy per tonne. Status: Final design being completed before • CCS – CO₂ compression, hub transport, submission for building consent and storage under $20 per tonne of CO₂. Expected cost: $12mil • Soil carbon measurement under $3 per LGA: Renmark Paringa Council hectare per year – a 90% reduction from Description: Long-term lease signed by council today’s measurement costs and would for 10 hectares of land which forms part of transform the economics of soil carbon the Jane Eliza estate for a project involving projects for Australian farmers. 15,000 solar PV panels. The project will connect to the Renmark SAPN substation via The Government will now commence eleven two adjacent 11kVA transmission lines. key actions: Contact: Shane Quinnell • Establishing a Technology Investment Business Developer Framework to prioritise the Government’s Akuo Energy Pacific investments in new technologies. Email: [email protected] • Investing $1.9 billion in a new energy technology package; establishing

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Australia’s first regional hydrogen export “If these technologies achieve widespread hub, a King Review Co-Investment Fund, a deployment globally, they will significantly CCS Deployment Fund and a Future Fuels reduce emissions from energy, transport, Fund to support new and emerging agriculture and heavy industry. These sectors technologies. account for 90 per cent of global emissions • Finalising new or revised Emissions and emit 45 billion tonnes each year. Reduction Fund methods to support CCS and soil carbon within 12 months. “The Government expects to invest more than • Commencing a soil carbon innovation $18 billion in low emissions technologies over challenge to rapidly reduce the cost of the decade to 2030, in order to drive at least measuring the impact of new farming $50 billion of new investment over the next practices on soil carbon sequestration. ten years." • Introducing legislative reforms to ARENA and the CEFC to give their boards Today’s announcement is backed by a flexibility to respond to the Government’s comprehensive Technology Investment priorities. Framework that aims to leverage a 3-5x level • Requiring key agencies (ARENA, CEFC and of co-investment from the private sector and the CER) to focus on accelerating the other levels of government. priority technologies. • Directing key agencies to publicly report The first Statement was prepared with advice on what action they are taking to from a panel of industry leaders, investors accelerate the priority technologies. and researchers chaired by Australia’s Chief • Establishing a permanent Technology Scientist Dr Alan Finkel and including Alison Investment Advisory Council, including Watkins, Ben Wilson, Drew Clarke, Grant King, the Chairs of key agencies, to advise on Jo Evans and Shemara Wikramanayake. the development of the second Annual Statement. Annual Statements are the The Panel’s work was also informed by mechanism the Government will use to extensive stakeholder consultation – including guide, track and measure the impact of around 500 written responses, and workshops our investments in new energy with more than 150 businesses, researchers, technologies. community organisations and associations. • Expanding Australia’s international collaboration with trading partners. Minister Taylor thanked the Panel for its • Conducting a review of legislative or contribution to the Technology Investment regulatory barriers to technology uptake Roadmap. as part of the second annual Low The Low Emissions Technology Statement is Emissions Technology Statement. available on the Department of Industry, • Completing the development of Science, Energy and Australia’s Long Term Emissions Resources website: http://industry.gov.au/LET Reduction Strategy before COP26. S2020

“The Government’s plan has three key focuses Source: Federal Government – lower emissions, lower costs and more jobs,” said Minister for Energy and Emissions Reduction Angus Taylor.

“Getting the technologies of the future right will support 130,000 jobs by 2030, and avoid in the order of 250 million tonnes of emissions in Australia by 2040.

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Technology Investment Technology Statement where ARENA can hit the ground running and build on our Roadmap sets the course considerable body of work and knowledge. 22 September Continuing this momentum is important for ARENA welcomes the Australian the market and for the Australian economy,” Government’s first Low Emissions Technology Mr Miller said. Statement released today by the Minister for Energy and Emissions Reduction, the Hon “Over the years, as technologies have Angus Taylor MP. matured and reached commercial viability, ARENA has broadened its scope and shifted its Developed as part of the Australian focus from funding renewable energy Government’s Technology Investment generation — such as solar and wind which Roadmap process, the Low Emissions are now mature — to supporting the energy Technology Statement outlines the priority transition more broadly including hydrogen, technologies with the potential for energy storage, electric vehicles and enabling transformational economic and emissions technologies. This is reflected in our current outcomes, in Australia and globally, including investment priorities which are well aligned clean hydrogen, energy storage, low carbon with the Low Emissions Technology steel and aluminum, carbon capture and Statement. storage and soil carbon. “It’s pleasing to see ARENA’s hard work in the The inaugural Statement also outlines renewable energy sector acknowledged emerging and enabling technologies a number through new funding and an expanded role. of which are currently supported by ARENA We look forward to building on a strong including energy efficiency, electric and project portfolio and established stakeholder hydrogen vehicle charging and refuelling, and relationships to help unlock the next low emission energy system enablers such as generation of low emission technologies,” he virtual power plants. said.

Together with other agencies including the Read more about the Technology Investment Clean Energy Finance Corporation and the Roadmap’s first Low Emissions Technology Clean Energy Regulator, ARENA will be a key Statement. part of the Government’s efforts to accelerate priority technologies to achieve stretch goals. Source: ARENA ARENA’s Chair will also become a member of the permanent advisory council providing advice on the Roadmap.

In support of the Low Emissions Technology Component delivery Statement, the Australian Government last commences at Mortlake South week announced a $1.9 billion package Wind Farm including $1.62 billion in new funding for 23 September ARENA over the next 10 years. • Construction is ramping up at the

Mortlake South Wind Farm, where ARENA CEO Darren Miller said the agency delivery of main turbine components has looks forward to contributing to the goals and commenced in recent weeks. opportunities outlined in the first Low • “The delivery of towers, blades, nacelles Emissions Technology Statement. and hub components mark the beginning

of onsite wind turbine erection and “There are a number of priority technology assembly – an exciting milestone for the stretch goals and emerging and enabling technologies outlined in the Low Emissions

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project” said Mortlake South Wind Farm assembly commencing in November and Project Manager Andrew Tshaikiwsky. continuing until April 2021.

Tower sections manufactured in Tasmania are Additional information on the turbine being transported from the Port of component delivery timescales and routes Melbourne, whilst the remaining towers are (including maps) can be found on the being delivered from Keppel Prince in Mortlake South Wind Farm project Portland. The blades, nacelles and hub website here. components are being transported from the Port of Portland. As these components are Source: ACCIONA Australia large, they will travel in convoy with escort vehicles. Deliveries are scheduled to occur between Monday and Saturday over the coming months, with different components Encouraging results for scheduled to arrive at various times of the day. revenues from TESS and Aurora Due to VicRoads over-dimensional permit 23 September requirements, the blades will be travelling at • Aurora could generate higher revenues by night from the Port of Portland. These combining thermal (TESS) and battery (BESS) components will depart the Port of Portland storage after 3am and arrive onsite between 6 - 7am. • Modelling shows TESS can earn substantial

revenues from FCAS while charging from the “All deliveries will be unloaded during grid standard site working hours, however people passing through the area may still see lights 1414 Degrees (ASX:14D) is pleased to report and movement at the site compound at first results from the modelling of a TESS-GRID various hours. The timing of these deliveries in the context of the Aurora Solar Energy will ensure the safety of road users” noted Project. A partial set of revenue stacks Mr. Tshaikiwsky. modelled by ITP Renewables (ITP) using

historical data shows a positive revenue “We also ask all road users to please help outlook for 14D’s TESS at the site. keep the community safe by being alert and aware of changed traffic conditions, and Charging the TESS from the grid can earn adhering to speed limits. Speeding through a substantial revenues from FCAS services work site can be dangerous for both road which in turn reduces the levelised cost of workers and motorists.” storage (LCOS).

The steel towers for the Mortlake South Wind Importantly, the modelling shows that a Farm are manufactured in Australia, by combination of TESS and BESS storage Keppel Prince in Portland, and Haywards increases potential revenue generation from Steels in Tasmania. “ACCIONA are proud to the site through more flexibility of frequency source our steel towers locally, supporting response. Australian manufacturing and the growth of our local renewable energy capacity” said This extends encouraging modelling of Brett Wickham, ACCIONA Energy Australia’s revenues from a hybrid PV-BESS power plant Managing Director. on the site, as reported previously. ITP has

been optimising and refining models of With warmer weather approaching, revenues from a variety of plant scenarios construction will be in full swing over the incorporating TESS and BESS. 14D will coming months, with turbine erection and commission specialist modelling using

Page 10 (Click on relevant project links to go to online Project Database) projections to 2050 for the Aurora business conclude the project financing activities and case and project financing. reach financial close for the Project by 30 September 2020. Genex has continued to 1414 Degrees Executive Chairman, Dr Kevin advance these activities over the past 3 Moriarty commented, “There are other months, and in particular has completed its revenue sources that cannot be predicted for competitive equity process and is in the final inclusion in the stacks, and more are expected stages of concluding negotiations with a to be created as the regulatory market preferred equity partner to invest up to a 50% adjusts, driving down the LCOS to support interest in the Project. The Queensland TESS deployment in our proposed hybrid Government late yesterday reaffirmed its Silicon Power Plant at Aurora.” commitment of $132 million in capital funding for the Project transmission infrastructure, He added, “A BESS and TESS can complement and Genex is now seeking to finalise each other to provide short and long duration negotiations with its other project partners storage capabilities as described in AEMO’s and stakeholders to conclude the project recent Integrated System Plan. Our Aurora financing arrangements. Genex accordingly Solar Energy Project will demonstrate this to wishes to advise that the Project is no longer provide a model for the entire NEM.” expected to reach financial close by 30 September 2020. Notes on the modelling: • The TESS and BESS are charging from the In light of this delay to the project financing grid in these scenarios timetable, the Northern Australia • A TESS and BESS combination at existing Infrastructure Facility (NAIF) has continued to solar and wind farms could maximise their extend its support for the Project and has revenue by making use of curtailed electricity advised Genex that the NAIF Board has for charging, and this would be an option as extended its Offer of Funding to 31 January Aurora expands its PV generation 2021. Genex is also in the process of • The model aims to maximise revenues by extending its Generator Performance capturing the full potential of spot energy Standards approval from the Australian prices and FCAS in each time segment Energy Market Operator to 31 December • TESS opens a significant opportunity in the 2020, and is working with Powerlink and the FCAS market and, potentially, the AEMO Project’s key contractors to extend validity of demand response scheme, Reliability and their agreements and pricing beyond 30 Emergency Reserve Trader (RERT) because a September 2020 to support the project TESS can charge and discharge independently, financing timetable. unlike batteries. Genex continues to focus on closing out all Source: 1414 Degrees workstreams to deliver financial close as soon as possible, and will keep the market informed of its progress over the coming weeks. Kidston Hydro Project update Commenting on today’s announcement, 23 September Genex CEO, James Harding stated: Genex Power Limited (ASX: GNX) (Genex or ”We are pleased that the Queensland the Company) provides the following update Government has reaffirmed their in relation to the development and financing commitment of $132m to help fund the activities for the 250MW Kidston Pumped construction of the Kidston Pumped Storage Storage Hydro Project (the Project). Hydro Project Transmission Line. The

development of the Kidston Pumped Hydro As announced on 1 July 2020, Genex has been Project will create a peak workforce of over working with its various stakeholders to

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500 people per annum in regional defined to develop the LSOP, and bids have Queensland, secure power supply to local been received for the Power Station EPC communities and unlock significant clean package. This package was scoped to include energy generation in the region. renewable power generation, battery storage and an LNG backup reserve. I would like to thank all of our stakeholders, particularly NAIF, ARENA, the Queensland “Very pleasingly, these bids exceeded our Government and Powerlink for their ongoing design criteria both in terms of the rate of support of the project as we seek to finalise penetration of renewable power, and the negotiations on the project financing.” impact that the renewable power solution has on reducing the LSOP’s carbon emissions. Source: Genex Power These are benefits that accrue to both our shareholders and the broader stakeholder and investment base.

Environmentally sustainable “Solar-SOP production competes on a cost basis with the industrial Mannheim process, SOP sitting at the lowest end of the global cost of 23 September production curve. The LSOP will produce SOP Australian Potash Limited (ASX: APC) (APC or into that lowest quartile, and will also be one the Company) is pleased to advise finalisation of the lowest carbon footprint potash projects of the FEED Study for the Engineering, globally. Procurement and Construction of Australia’s first high penetration renewable power “The Company is pursuing organic solution on a green-fields SOP minerals certification for the suite of products to be project development. produced at the LSOP, which will truly make the K-BriteTM branded SOP long term Highlights environmentally sustainable.” • Base case renewable power penetration rate of 53% with potential to rise to 87% Next Steps • 50% reduction in CO2 emissions compared Quarter Milestone to DFS hydro-carbon power solution base case Q4 2020 Finalise Offtake Program • 300% more carbon emissions produced Q4 2020 Finalise Approvals Pathway from Mannheim (industrial) SOP production Q4 2020 Complete FEED optimisation, report than the LSOP on an equivalent tonne’s basis outcomes • LSOP positioned as the lowest CO2 emitting Q4 2020 Complete debt financing due potash project development in Australia diligence, appoint lead arranger, credit • International Organic Certification agencies approvals assessing K-BriteTM application Q4 2020 Award EPC contracts Q1 2021 Final Investment Decision Managing Director and CEO, Matt Shackleton, Q1 2021 Commence construction commented: “Solar-SOP projects naturally sit at the lower end of the CO2 emissions curve Source: Australian Potash by virtue of the natural evaporative process involved, and we challenged our project team to model a renewable power solution to maximise the LSOP’s long-term environmental sustainability.

“We are running competitive tendering processes for the eight packages of work

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Sunbelt powers renewables- The second would involve a new requirement for any new large-scale renewable energy led recovery plan projects to offer locals the chance to purchase 23 September up to 20 per cent of the project value and A ‘sunbelt’ of locally-owned renewable power secure a minority stake in new projects. stations would drive regional Australia’s economic recovery under an ambitious $483 Dr Haines said that this proposal builds on a million proposal unveiled today by Helen similar scheme that has operated in Denmark Haines MP. since 2008. In Australia, the in NSW is the only large-scale renewable The Independent Federal Member for Indi this project to be developed through a co- morning published her Local Power Plan that investment model, having raised a $7.5 would establish 50 hubs in regional centres million co-investment from local residents. across the country to support local community groups to develop their own “Every year, energy companies make billions renewable energy projects. of dollars selling electricity to Australians,” she said. “If everyday regional Australians Each of the hubs would provide technical could invest in these new renewable power expertise and would distribute $650,000 stations, we’d create a significant new income worth of grants to local community groups stream for everyday people.” each year for the next 10 years. In August, Dr Haines met Energy Minister Dr Haines said the proposal was modelled on Angus Taylor to lobby for the Local Power a successful pilot program in the Victorian Plan proposal to be funded in the federal cities of Bendigo and Ballarat and in the Budget in October. Later this year, she will Latrobe Valley. introduce legislation to establish a new Australian Local Power Agency to administer “In the Victorian pilot, an initial investment of the scheme. $1.3 million generated 15 projects worth $14.5 million to the local economy and saved “To make this a reality, we need the people $364,000 in electricity bills every government to come to the table,” she said. year,” she said. “Right now, we need practical solutions to jolt “Our proposal is significantly more ambitious our economy back to life, and this is a so would deliver much greater economic sensible, practical plan we developed with return and much greater savings.” communities right across regional Australia.

Dr Haines’ plan also involves two new “This could be a catalytic investment in our schemes to ensure regional communities get a regions – I’m calling on the Energy Minister to better deal from commercial energy step up for regional Australia. developments. “The Local Power Plan would mean lower bills, The first would see a public underwriting stronger energy security, and new jobs and scheme for majority community-owned opportunities for regional Australians. Now energy projects. more than ever, that’s exactly what we need.”

“The underwriting scheme would attract large The Plan is available private investors to partner with local at localpowerplan.com (live September 23) communities to develop, for instance, a solar and here. farm or a community battery that could help power an entire regional town,” she said. Source: Helen Haines

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August Large-scale Renewable Wind energy, both onshore and offshore, plays a critical role in the world’s transition to Energy Target market data carbon-free energy sources. With a product now available lifespan of 30 years and a wind turbine 23 September recyclability rate of 85% to 90%, the wind The Clean Energy Regulator has released the power industry is now looking to close the August 2020 Large-scale Renewable Energy remaining gap by designing and Target market data. manufacturing the first 100% recyclable wind turbine blade. Highlights include: Two solar power stations with a combined The ZEBRA (Zero wastE Blade ReseArch) capacity of 3.1 megawatts (MW) were project, driven by French research center IRT accredited. Jules Verne, brings together industrial companies and technical centers to Two utility-scale power stations with a demonstrate on a full scale the technical, combined capacity of 303 MW were economic and environmental relevance of approved, with accreditation dates in June thermoplastic wind turbine blades, with an and July: eco-design approach to facilitate recycling. Goonumbla Solar Farm in NSW – 89 MW, and The project has been launched for a period of in WA – 214 MW. 42 months with a budget of €18.5 million ($21.8 million). Two utility-scale renewable energy projects reached financial close, with a combined Towards highly recyclable composites capacity 371 MW: To accelerate the wind power industry’s Columboola Solar Farm in QLD – 162 MW, and transition to a circular economy for wind Murra Warra Wind Farm Stage 2 in VIC – 209 turbine blades, the ZEBRA project establishes MW. a strategic consortium that represents the full value chain: from development of materials, Two utility-scale renewable energy projects, to blade manufacturing, to wind turbine with a combined capacity of 639 MW, entered operation and decommissioning, and finally into power purchase agreements: recycling of the decommissioned blade Suntop Solar Farm in NSW – 189 MW, and material. Clarke Creed Wind Farm Stage 1 in QLD – 450 MW. Arkema has developed Elium®, a thermoplastic resin, well known for its Source: Clean Energy Regulator recyclable properties by depolymerization or dissolution. This resin will be used in the ZEBRA project. TECHNOLOGY The project will benefit from CANOE expertise ‘ZEBRA project’ launched to on polymer formulation, carbon fiber develop first 100% recyclable development and polymer recycling. CANOE has recently developed a very innovative wind turbine blades recycling process of fiber-reinforced acrylic 23 September composite material by dissolution method A cross-sector consortium, including LM Wind providing a high added-value recovery of both Power, announced a ground-breaking project separate recycled methyl methacrylate to design and manufacture the wind monomer and recycled fiber. industry’s first 100% recyclable wind turbine blade. ENGIE is a world-class wind farm operator, with 8.5 GW under management, and the

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French leader of the wind industry, with more Corning and Suez who are key leaders in the than 2.6 GW of installed capacities. Its wind energy sector. We look forward to purpose is to act to accelerate the transition carrying out constructive work altogether to towards a carbon-neutral economy, in improve wind energy performance and particular through the sustainable efficiency.” development of renewable technologies. Torben K. Jacobsen, Senior Director Advanced LM Wind Power is a world leading designer Technology Systems, LM Wind Power, stated: and manufacturer of wind turbine blades, “As a key player in the transition to with more than 228,000 blades produced affordable, renewable energy sources across since 1978. The Cherbourg factory associated the world, the wind power industry works with the ZEBRA project has produced the actively to develop new materials with higher largest blade ever manufactured at 107 performance, longer lifespan and recyclable meters in length. properties. Using Elium® resin, combined with design, manufacturing and recycling process Owens Corning is one of the world leaders in optimization, constitutes an opportunity to the field of glass fiber and composite reduce cost, production time and elements and the inventor of patented High environmental impact of wind turbine blades. Modulus Glass technology that created step We are thrilled to be a launching partner for a change performances in the wind industry the truly recyclable blade for future wind last decade. turbines, leading the way to a sustainable world that works for generations to come.” Within the ZEBRA project, LM Wind Power will design the product, process and manufacture Source: LM Wind Power two prototype blades using Arkema’s Elium® resin, in order to test and validate the behavior of the composite material and its PROJECT NEWS feasibility for industrial production. In parallel, Waroona Solar Farm the ZEBRA project partners will focus on The federal Department of Agriculture Water developing and optimizing the manufacturing & the Environment won’t be required to process by using automation, to reduce assess the Waroona Solar Farm in southern energy consumption and waste from Western Australia under the EPBC Act. South production. Project partners will then explore Energy, on behalf of the applicant SE Waroona methods to recycle the materials used in the Development Pty Ltd is proposing to construct prototype blades into new products. Finally, a the 183 MW solar farm comprising: life cycle analysis will assess the • 488,800 photovoltaic (PV) modules; environmental and economic viability of • approximately 50 power conversion units further utilizing the thermoplastic material in (PCUs) containing electrical switchgear, future wind turbine blades. inverters and transformers;

• a substation; A project supported by the entire wind energy • an operations and maintenance (O&M) sector facility containing a Battery Energy Storage Céline Largeau, ZEBRA project Manager, IRT Facility / System (BESS) of up to 20 MW / 40 Jules Verne, stated: “Demonstrating a circular MWh rated capacity; approach to wind turbine blades throughout • overhead interconnection power line from their lifetime requires mobilizing a strategic the on-site substation to the off-site consortium covering the whole value chain to substation; and guarantee valuable and precise industrial data • connecting to the Western Power and achievements. The ZEBRA project is a transmission line via the Landwehr Terminal great opportunity to join together Arkema, Station. CANOE, ENGIE, LM Wind Power, Owens

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Herbert Smith Freehills advises "We also congratulate Hana on achieving this milestone on their first renewable project in on the project financing of Australia." Columboola Solar Farm 24 September White & Case, ICA Partners and Korean law Herbert Smith Freehills has advised the firm Daeryook & Aju advised Hana Financial financiers on the A$199 million project Investment in relation to the project. financing for Hana Financial Investment’s first renewable energy investment in Australia— This deal is another example of Herbert Smith the 162 MW Columboola Solar Farm in Freehills’ market-leading work advising on the Queensland. financing of major renewables projects, including recently advising in relation to the The solar farm will be constructed near Miles Molong Solar Farm, Moorabool North Wind in Queensland’s Western Downs and will Farm, Winton Solar Farm, Dundonnell Wind power the equivalent of 100,000 homes, or Farm and Snowtown 2 Wind Farm. approximately 6 per cent of all homes in the state. CS Energy, a Queensland government- Source: Herbert Smith Freehills owned energy business, will buy 100 per cent of the output of the solar farm and on sell it to its large commercial and industrial retail customers, including Griffith University, Burrendong Wind Farm CQUniversity and Queensland University of Technology. Update 25 September The project reached financial close on 18 Scoping Report lodged September 2020. Its financiers comprise This month Epuron lodged the Scoping Report Australia and New Zealand Banking Group for the project with the NSW Department of (which also acted as Agent and Security Planning, Industry and Environment (DPIE). Trustee), DBS Bank and Societe Generale. The DPIE is the consent authority for renewable energy projects in NSW, which are The Herbert Smith Freehills cross-practice considered State significant development. The team acting for the financiers was led by DPIE will use the Scoping Report to prescribe partner Gerard Pike with support from the technical studies required, called partner Toby Anderson, senior associate Secretary’s Environmental Assessment Daniel Ficyk and solicitors Beryl Yan, Will Requirements (SEARs). Kennedy and Amelia Murphy. The proposed current design includes 69 Mr Pike said, "After a difficult period in the turbines, and the site is located within the Queensland large-scale solar market since the NSW Government’s Central-West Orana last round of ARENA and CEFC funded projects Renewable Energy Zone (CWO REZ), an area it is very satisfying to see this large solar rich in renewable energy resources expected project achieve financial close. We are proud to yield up to 3,000 megawatts (MW) of new to have assisted ANZ, DBS and Societe generation capacity, enough to power 1.3 Generale to fund Columboola and we hope it million homes. marks the start of the next generation of high technology large scale solar projects in Source: Epuron Queensland with quality offtake agreements which are required to underpin project financings of this type in the current market.

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Final turbine foundations down at Crudine Ridge Wind Farm 25 September The 37th and final Wind Turbine Generator foundation (WTG) has been poured at Crudine Ridge Wind Farm. The 365 cubic metre reinforced concrete foundations have been installed to support 3.8 MW GE turbines, with a 91.5 metre hub height, and a rotor diameter of 137 metres.

As well as the WTG foundations, icubed consulting has designed the internal access tracks, drainage and crane hard standings, and over 20 kilometres of external roads leading to the wind farm site. Crudine Ridge Wind Farm located south of Mudgee, NSW, is another in a growing list of projects delivered for Zenviron, and the project developer CWP.

Source: icubed

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