FHE remains on track to meet its target to begin solar development during the first half of 2024. Pic via Getty Images
Waroona Energy kicks off development study on 120MW solar farm with Frontier Energy in tow
Energy
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- Waroona has engaged an electricity and solar energy specialist to complete a definitive feasibility study (DFS) for a 120MW solar facility adjacent to Frontier Energy’s Bristol Springs project
- The DFS will finalise the detailed design, site layout, equipment specification and capital cost estimate
- Completion is targeted for the first half of 2024
Frontier Energy takeover target Waroona Energy (TSXV:WHE) has begun a DFS – the most advanced of economic studies – into the development of a 120MW solar facility in southwest WA.
In September, Frontier Energy (ASX:FHE) signed a letter of intent to acquire all the shares in Waroona Energy, a Canadian renewable energy company advanced in its study of a hydrogen fuelled peaking plant at its flagship renewable energy project of the same name.
FHE’s Bristol Springs project is adjacent to Waroona’s project and shares the same
attributes and benefits of nearby infrastructure – including secured connections to the South West Interconnected System – for green hydrogen production and supply.
FHE is now looking to acquire Waroona Energy to create a large-scale Australian renewable energy company with shovel ready solar generation of 335MW and the potential to expand to more than 1GW.
‘Most cost effective for a combined development’
Waroona has engaged electricity and solar energy specialist Incite Energy to complete a DFS for a 120MW solar facility.
While Frontier has already completed a DFS for a 114MW solar farm, Waroona’s ground is located closer to the nearby electricity terminal (300m away) and is the most cost effective for Stage One of a combined development.
The Waroona DFS will finalise the detailed design including site layout, equipment specification and capital cost estimate (accurate to ±15%) for Stage One development and leverage the significant work already completed.
Renewable energy hub in the making
FHE managing director Sam Lee Mohan says the development of a solar facility is a key pillar of the company’s long-term strategy to build a renewable energy hub.
“This strategy includes solar production, green hydrogen production from solar energy, as well as green hydrogen consumption in a hydrogen-fuelled peaking power plant,” he says.
“Given our existing collaboration agreement with Waroona, and the recently announced transaction that will combine the two companies, it makes logical sense to prepare for construction of the Stage One solar facility on a site that is located nearest the electricity terminal.”
“As significant work has been completed on solar power generation already (including in Frontier’s DFS), Waroona’s solar DFS can be fast tracked and completed by early 2024.”
FHE remains on track to meet its target to begin solar development during the first of 2024.
This article was developed in collaboration with Frontier Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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