1414 Degrees Ltd is pleased to advise that its joint venture SiliconAurora Pty Ltd, owned equally with Vast Renewables Limited (Vast), has entered into a term sheet with Vast Solar and OZ Minerals Services Pty Ltd , a subsidiary of BHP Group Limited (BHP). The Term Sheet sets out an in-principle process in respect of SiliconAurora and Vast Solar potentially obtaining access to the ElectraNet owned 275kV Hill-to-Hill Transmission Line (H2H) to connect the initial stages of the Aurora Energy Precinct.

The Term Sheet provides for SiliconAurora, Vast Solar and OZM to enter into negotiations for a possible binding agreement by 30 September 2024 (which date can be extended by mutual agreement) that would be intended to govern the arrangements between those parties in relation to access arrangements to the H2H.

Approval for access to the H2H is required from both ElectraNet and the sole customer on the line, OZ Minerals, which was acquired by the BHP group in May 2023. The H2H currently services the two BHP group mines in the north of South Australia, Prominent Hill and Carrapateena. Pursuant to the Term Sheet, SiliconAurora and Vast Solar will commission an independent technical review to assess the risks associated with the proposed connections. The Term Sheet is subject to certain termination scenarios, including if OZM, in its absolute discretion, is not satisfied with the risks associated with the proposed connections to the H2H, following the independent technical review.

As previously announced, SiliconAurora has submitted a transmission connection application to ElectraNet for a 140MW/280MWh battery energy storage system (BESS) to connect to the NEM through the H2H line. The application is in progress.

About Aurora Energy Precinct

The Precinct is owned by SiliconAurora, a joint venture between 1414 Degrees Ltd and Vast Renewables Limited which plans to develop a 140MW/280MWh battery energy storage system (BESS) on the site.  Acquired by 14D in November 2019 through the purchase of Solar Reserve Australia II Pty Ltd, now known as SiliconAurora Pty Ltd, the Precinct had Development Approval for 150MW Concentrated Solar Power and 70 MW PV electricity generation. Subsequently, 14D obtained approvals for a 140MW/280MWh BESS and a grid scale SiBox pilot, 14D’s latent heat battery technology. In 2022 Vast acquired a 50% interest in SiliconAurora Pty Ltd from 14D and obtained approvals for its modular concentrated solar technology and a pilot solar methanol plant.