GenusPlus Group (ASX:GNP) has secured 3 contracts valued at a combined $200 million to provide services for phase one of the Melbourne Renewable Energy Hub (MREH) in Victoria. 

GenusPlus, which has a $202.6 million market capitalisation, says the contracts have been awarded in line with its joint venture (JV) with South Korean construction and engineering company Samsung C&T (KRX:028260).

GenusPlus holds the minority 30% interest in the JV, while Samsung C&T holds the majority 70% interest.  

Under the contracts, GenusPlus will engineer, procure, construct, and commission the Balance of Plant scope and battery energy storage system (BESS) installation for a 600 megawatt (MW) to 1,600MW per hour (MWH) BESS project for the MREH on a lump-sum and turn-key basis. 

GenusPlus reports MREH phase one has been divided into 3 projects: 2 projects each comprising 400MWh of 2-hour storage capacity, which will be owned 70% by Equis Development and 30% by Victoria’s State Electricity Commission (SEC), and one project comprising 800MWh of 4-hour storage capacity, which will be owned 51% by Equis and 49% by the SEC. 

GenusPlus Managing Director David Riches welcomes the opportunity to play an important role in delivering the project, which is expected to help lead the transition to Australia’s clean future. 

“This is a milestone project for Genus. This contract gives us great confidence that the market sees our capability and capacity to deliver a project of this size and complexity.” 

“This is a milestone project for Genus”

The MREH represents a globally ‘significant’ energy storage precinct sitting about 25km northwest of Melbourne’s commercial business district and is owned by Equis Development — an Asia-Pacific infrastructure developer — and Victoria’s SEC. 

GenusPlus is a specialist power and communications infrastructure and services provider operating across Australia. 

Write to Adam Drought at Mining.com.au

Images: GenusPlus