Frontier Energy to buy additional land for its Bristol Springs solar project

Australian company Frontier Energy Ltd (ASX:FHE) has exercised its option to buy additional land adjacent to its Bristol Springs Renewable Energy Project (BSS Project), supporting its long-term strategy to achieve 1 GW of renewable energy capacity in the region.

The transaction encompasses 238 hectares of land located 300 metres (984 feet) from the existing Landwehr terminal. The value of the deal, which is expected to be settled sometime this month, is AUD 4.8 million (USD 3.23m/EUR 3.07m). The funding will come from available cash resources.

The Australian firm has also agreed on an extension until July 2023 of options over other land parcels in the area spanning 93 hectares and adjacent to Stage One of the BSS Project.

“This ground holds the greatest strategic importance to the company due to its position adjacent to Stage One (114 MW). This acquisition result in lower capital cost for Stage One development, given a more direct route to essential infrastructure, whilst also eliminating potential “red tape” that can occur if ground is leased either through third parties or the government,” said Frontier Energy’s managing director Sam Lee Mohan.

Frontier Energy’s core activity is the development of the BSS Project which is targeting to become one of the first commercial green hydrogen projects in Australia. The company recently completed a pre-feasibility study that outlined the solar scheme’s potential to be both an earlier mover and one of the lowest-cost green hydrogen assets in Australia.

(AUD 1 = USD 0.673/EUR 0.640)

Choose your newsletter by Renewables Now. Join for free!