In a recent development, 1414 Degrees Ltd announced that its joint venture, SiliconAurora Pty Ltd, in equal partnership with Vast Renewables Limited (Vast), has reached a significant milestone.
A term sheet has been inked with Vast Solar and OZ Minerals Services Pty Ltd, a subsidiary of BHP Group Limited (BHP), 1414 Degrees said in a news release.
This term sheet outlines a preliminary agreement regarding potential access to the ElectraNet owned 275kV Hill-to-Hill Transmission Line (H2H) to facilitate the initial phases of the Aurora Energy Precinct.
Under the terms of the agreement, SiliconAurora, Vast Solar, and OZ Minerals Services Pty Ltd (OZM) will engage in negotiations aimed at finalising a binding agreement by 30 September 2024.
This date remains subject to extension by mutual consent. The anticipated agreement would govern the specifics of access to the H2H for SiliconAurora and Vast Solar.
Securing access to the H2H necessitates approval from both ElectraNet and the line’s sole customer, OZ Minerals, which became part of the BHP Group in May 2023.
Presently, the H2H facilitates operations for two BHP Group mines in the northern region of South Australia: Prominent Hill and Carrapateena.
As part of the arrangement outlined in the term sheet, SiliconAurora and Vast Solar will commission an independent technical review to evaluate the associated risks of the proposed connections.
The term sheet also includes provisions for termination under certain scenarios, including OZ Minerals’ discretion if it’s not satisfied with the risks following the independent review.
This development follows SiliconAurora’s prior submission of a transmission connection application to ElectraNet for a 140MW/280MWh battery energy storage system (BESS) to link with the National Electricity Market (NEM) through the H2H line.
The Aurora Energy Precinct, owned by SiliconAurora, represents a joint initiative between 1414 Degrees Ltd and Vast Renewables Limited.
