Genex Power has signed an offtake agreement with Australian energy giant Stanwell Corp., paving the way for the initial 775 MW phase of the Bulli Creek solar and battery project in southeastern Queensland.
Stanwell Signs 15-Year Deal for Genex’s Bulli Creek Solar Farm
Queensland’s state-owned power company, Stanwell Corp, has committed to a 15-year agreement to purchase renewable energy from Genex Power’s Bulli Creek solar project, poised to become Australia’s largest grid-connected solar farm. Under the power purchase agreement (PPA), Stanwell will take up to 550 MW from the project’s first stage, located about 150 km southwest of Toowoomba, Queensland.
The 775 MW first stage marks the beginning of a multi-phase development that will ultimately feature up to 2 GW of solar power and a 400 MW/1,600 MWh battery energy storage system. The project has already secured its planning, environmental, and heritage approvals.
Alongside the PPA, a Stanwell division—Stanwell Asset Maintenance Company (SAMCo)—has signed a five-year contract to provide operations and maintenance (O&M) services for Genex’s 50 MW Kidston Solar Farm in northern Queensland. This marks the second contract for the newly established SAMCo, which is scheduled to begin providing O&M services for the solar project in December 2024.
Stanwell launched SAMCo in November 2023 to offer operations and maintenance services for renewable energy projects across Queensland, aiming to create new training and job opportunities. The 50 MW Kidston Solar Project, first energized in November 2017, features 540,000 solar modules from cadmium telluride thin-film manufacturer First Solar, uses a single-axis tracking system, and has an expected 30-year lifespan.
“SAMCo’s contract also locks in additional jobs in the renewable sector and showcases our ability to leverage our highly skilled workforce and experience to optimise the performance of renewable energy assets like those at Kidston Solar Farm,” said Michael O’Rourke, Stanwell CEO.
Genex Aims for Bulli Creek Investment Decision by 2024
Genex CEO Craig Francis said the company, which was acquired by Japanese utility J-Power in August for AUD 380 million ($256.5 million), aims to reach a final investment decision on the first stage of the Bulli Creek project by the end of 2024.
“The 15-year offtake agreement at Bulli Creek will enable Genex to progress the project swiftly toward a final investment decision later this year, delivering 775 MW of new renewable energy capacity in Queensland from 2027,” said Craig Francis, Genex CEO.
The Stanwell PPA is a welcome development for Genex, particularly after a previous offtake agreement with Fortescue for up to 337.5 MW of solar energy from the Bulli Creek project expired. Fortescue had planned to use the renewable energy for its Gibson Island renewable hydrogen and green ammonia project but has since shifted its focus.
Stanwell’s Genex Deal Boosts Queensland’s Renewables
For the coal-heavy Stanwell, this agreement with Genex aligns with its goal of building a portfolio of clean energy and storage projects across Queensland. The partnership supports the state government’s renewable energy targets of 70% by 2032 and 80% by 2035.
“Our partnership with Genex is an essential element of Stanwell’s portfolio transformation and will accelerate the delivery of our renewable energy pipeline in line with the Queensland Energy and Jobs Plan. This new power purchase agreement is another exciting step toward Stanwell’s target of 9 to 10 GW of renewable energy generation by 2035,” said Michael O’Rourke, Stanwell CEO.
While it operates major coal-fired power stations—including the 1,400 MW Tarong plant near Kingaroy and the 1,445 MW Stanwell facility west of Rockhampton—the company has also secured nearly 4,000 MW of renewable energy generation and firming capacity projects that are now operational, under construction, or in development.
