1414 Degrees Ltd would like to provide an update on the Aurora Energy Project following the recent takeover of OZ Minerals Ltd (OZ Minerals) by BHP Group Ltd (BHP).

Key Updates:

SiliconAurora Joint Venture: Our joint venture with Vast (50:50), continues to make progress on the 140MW battery energy storage system (BESS) project. We have secured a letter of intent with a major battery supplier, ensuring the project’s equipment needs.

Generator Performance Study and Approvals: The generator performance study is nearing completion, expected in the second week of June. Government, environmental, and statutory approvals are well advanced.

DNA Agreement and Transmission Line: The transmission line was designed to service the proposed Solar Reserve 220MW solar generation project as well as OZ Minerals’ mines. It therefore has a large power capacity. With the exit of Solar Reserve, OZ Minerals continued with a private Dedicated Connection Asset (DCA) owned by Electranet. In order for SiliconAurora to access the transmission line, it requires conversion from a DCA 275kV private line to a shared Designated Network Asset (DNA). Progress on the DNA agreement to convert the transmission line is contingent upon discussions with BHP, the new owners of OZ Minerals.

Increased Security of Supply: The BESS project enhances power supply security without significantly impacting availability. It is designed to contribute to a more resilient energy ecosystem.

Timeline for Site Works: Site works are now scheduled to commence in early 2024 due to recent ownership changes and ongoing discussions with BHP.

We are committed to the success of the Aurora Energy Project and will provide further updates as necessary.