OX2

OX2 sold the 119MW solar farm portion of the SEC Renewable Energy Park Horsham to the SEC in September. Located near Horsham in Victoria, the area is one of the state’s best regions for solar power generation. The annual electricity production is estimated to be 242 GWh, enough to power approximately 51,000 households.

SEC’s ownership of the project has not only enabled construction to begin immediately but has added a 100MW battery energy storage system (BESS) on the same grid connection, making it OX2’s first hybrid project. Hybrid projects provide grid stability and manage peak demand, which can help lower power prices.

“I want to thank the SEC for their commitment and seeing the huge potential of this project which allowed it to scale up beyond what was initially envisioned and become a reality. We look forward to entering the construction phase together and to leveraging OX2’s strong track record when it comes to health and safety and being a good neighbor in the community,” says Rachel Watson, Country Manager OX2 Australia.

“Public purpose remains at the heart of our investment decisions. In addition to much-needed renewable energy generation and storage, the SEC’s Renewable Energy Park - Horsham will deliver local jobs and community benefits.  Importantly, the project will deliver sustainable financial returns that can be reinvested into more publicly owned renewables,” says SEC CEO, Chris Miller.  

The project was officially unveiled on the 20th of November at a sod-turning event on the project site, attended by the Honourable Jacinta Allan, Premier of Victoria, the Honourable Lily D’Ambrosio, Minister for Climate Action, Energy and Resources and for the SEC, as well as Paul Stormoen, OX2’s CEO, Rachel Watson, OX2’s Country Manager for Australia, Simon Corbell, SEC’s Board Chair, and Chris Miller, SEC’s CEO.

OX2’s Australian project development portfolio at Q3 consisted of 918 MW solar power and 328 MW energy storage, located in Victoria, New South Wales, and Queensland. OX2 recently acquired an early-stage onshore wind project in Western Australia with up to 1 GW capacity and 100 MW BESS (indicative size). OX2 also provides technical and commercial management services of renewable assets, with 400 MW under management in Australia.