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Genex flags revenue boost from Tesla as fire damaged battery comes on line

Tesla will now take operational control of the Bouldercombe battery that caught fire last month after its owner Genex successfully completed its commissioning.

Nov 10, 2023, updated Nov 10, 2023
Grid scale battery at Bouldercombe, near Rockhampton, owned by Genex

Grid scale battery at Bouldercombe, near Rockhampton, owned by Genex

Two of the 40 battery packs remain too damaged from the fire and are being replaced by Tesla.

The Elon Musk company would now control the operations of the 50MW battery in time for the summer peak. Tesla would use its Autobidder algorithm technology to optimise the battery’s performance and “maximise revenues across the arbitrage and frequency control” services.

Genex had previously announced that Tesla would replace the fire-damaged battery packs at its cost.

Genex chief executive Craig Francis said the completion of the commissioning was an exciting milestone for the company, which is also developing the Kidston pumped hydro project in north Queensland.

He said the fire caused a modest delay and the commissioning was done within budget.

“The commencement of operations will mark the next step-change in revenues and cash flow for Genex and we are extremely pleased that Bouldercombe will be able to play its part in supporting the Queensland energy system over this period,” Francis said.

 

 

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