–News Direct–
Frontier Energy Ltd CEO Adam Kiley joins Proactive's Stephen Gunnion with details of a definitive feasibility study (DFS) for the company's Waroona Renewable Energy Project, 120 kilometres south of Perth in Western Australia.
Kiley highlighted the project's strategic advantage of having two grid connections in an unconstrained part of the grid, facilitating swift progression to production. The initial phase includes 120MWdc of solar power and integrated storage, aiming to store energy during low-demand periods and sell during peak hours, leveraging battery technology to optimize energy prices and demand fluctuations.
The project is designed to respond to Western Australia's power deficits by providing renewable energy solutions in a region experiencing a significant increase in energy demand, attributed to the rise in electric vehicle usage and business electrification.
The DFS for stage one shows a 30-year operation with strong EBITDA and IRR, forecasting a payback period of 5.7 years post-tax. With a total capital cost for stage one estimated at over $300 million, Frontier is initiating a debt financing process, expecting feedback in the second quarter. Potential future expansion could reach up to 1.1 gigawatts of energy, given the project's extensive land package and dual connection points.
Upcoming milestones include updates on debt financing and strategic partnership discussions, facilitated by Barrenjoey, a leader in renewable energy transactions, to potentially sell a portion of the project and accelerate development.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/frontier-energys-waroona-renewable-energy-project-positioned-to-power-up-australias-green-future-472007029
Frontier Energy Ltd
COMTEX_449191669/2655/2024-03-13T11:02:59
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