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    IFN   AU000000IFN8

INFIGEN ENERGY LIMITED

(IFN)
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Infigen Enters Agreement with TransGrid Regarding the Wallgrove Grid Battery

10/22/2020 | 06:43pm EDT

Infigen announced that it has entered into an agreement with TransGrid relating to Infigen's dispatch of the 50MW/75MWh battery energy storage system that will be constructed at the Wallgrove substation in New South Wales (the `Wallgrove Grid Battery'). The Wallgrove Grid Battery will be owned, constructed and maintained by TransGrid, with commercial operations expected to commence in H2-2021. Infigen's agreement with TransGrid is for a period of 10 years following the commissioning of the Wallgrove Grid Battery. Under the agreement, Infigen will have dispatch control of the Wallgrove Grid Battery and will receive all spot market revenue relating to its operations. This will include revenue from energy arbitrage and revenue from all eight Frequency Control Ancillary Services (FCAS) markets using Tesla's Autobidder platform. TransGrid will retain network services capabilities, including Fast Frequency Response (FFR) and Synthetic Inertia. Less than 5% of the Wallgrove Grid Battery's storage capacity will be reserved to deliver these network services. Infigen will pay TransGrid a fee for use of the Wallgrove Grid Battery and will also be responsible for any costs relating to dispatch, including bought energy costs. Maintenance of the Wallgrove Grid Battery will be managed and paid for by TransGrid. The Wallgrove Grid Battery is a complementary addition to Infigen's fast-start firming portfolio. This portfolio enables Infigen to significantly grow its renewable energy capacity by selling clean energy to customers under firm supply contracts.


© S&P Capital IQ 2020
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Managers and Directors
Ross Kenneth Rolfe Chief Executive Officer, Executive Director & MD
Leonard Francis Gill Independent Non-Executive Chairman
Tony Clark Executive General Manager-Operations & Projects
David Jose Mesonero Molina Director
Sergio Hernández de Deza Director