National essential power and communications infrastructure provider GenusPlus (ASX: GNP) has secured a $40 million contract from ACCIONA Energia for the design and construction of the Substation Works for the Aldoga Solar Farm project in Queensland.
The development of the Aldoga Solar Farm and its 275kV Substation (for electrical generation and distribution) represents a significant renewable energy initiative, strategically situated on land leased from Economic Development Queensland (EDQ) as part of the Queensland Government’s efforts to bolster renewable energy capacity, foster job creation, and stimulate future economic growth.
In 2022, the Queensland Government announced its bold resolve to achieve a 70% renewables target by 2032. This is part of a grand $62 billion Queensland Energy and Jobs Plan.
Genus Managing Director David Riches said, “Genus is pleased to be increasing its presence on the East Coast through its involvement in this flagship project which is aimed at providing significant benefits to Queenslanders. The award on this contract highlights the strength of our customer relationships and our reputation for reliable delivery, and the Company looks forward to building on its existing relationship with ACCIONA.”
Situated around 20 kilometres northwest of Gladstone in Central Queensland, the site for the Aldoga Solar Farm and Substation holds significant importance. ACCIONA Energia will take charge of constructing, owning, and operating both the Aldoga Solar Farm and the 275kV Substation. Genus, on the other hand, will be responsible for the detailed design, procurement, installation, and associated civil works for the new 275kV Substation.
This marks the Company’s second collaboration with ACCIONA in just three months. In December 2023, Genus and ACCIONA secured a $1.4 billion contract to execute Transgrid’s HumeLink Transmission Project in New South Wales. This project involves connecting Wagga Wagga, Bannaby, and Maragle with new and upgraded infrastructure across four substation locations. HumeLink aims to enhance Australia’s energy infrastructure, facilitating the integration of renewable energy sources into the national grid, thus promoting a cheaper, more reliable, and sustainable energy network.
The joint venture between Genus (25%) and ACCIONA (75%) will design and construct 237km of dual circuit 500kV Overhead Transmission Lines and upgrade the Bannaby 500kV substation over three years, with completion estimated in mid-2026. The project is expected to employ around 700 personnel at its peak, with construction set to commence in Q4 2024, pending necessary approvals. Genus will provide certain plant and equipment for the project, estimated at around $20 million over two years, with funding shared between Genus and ACCIONA according to their joint venture participation.
Besides that, it secured three contracts totalling $200 million in November. These contracts involve handling engineering, procurement, construction, and commissioning for the Balance of Plant scope and Battery Energy Storage System (BESS) installation. They are part of Phase 1 of the Melbourne Renewable Energy Hub (MREH), which entails a 600MW/1,600MWh battery energy storage project. These contracts are executed on a lump sum and turn-key basis, in partnership with Samsung C&T Corp.
Evidently, GenusPlus is cementing its reputation as the go-to company in the renewable energy segment.
The recent ACCIONA win, valued at approximately $40 million, is scheduled for completion over 12 months in 2024. Genus plans to engage around 70 personnel for the project, prioritising local talent and resources from regional Queensland.
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