Simon also mentions that this will 'double our revenues'. This is actually not quite right, as it will more than double revenues when it reaches full output because:
NSW solar generation-weighted average (GWA) prices are much higher than Queensland. This is because solar generation in NSW relative to daytime demand is lower, and because NSW is better interconnected with other NEM regions. Solar GWAs in Queensland were $35/MWh (weighted average) over the past 12 months, whereas NSW was $61/MWh (74% higher).
The node that Jemalong will be dispatching into has a higher Marginal Loss Factor (MLF) than Kidston SF (~1.04 for Jemalong vs 0.8907 for Jemalong). MLFs are used to adjust spot revenues to take into account an estimation of the network losses incurred by a generator. If Kidston SF generates 1 MWh @ $50, Genex will receive ($50 x 0.8907 = $46.32). Jemalong would generate $52 of revenue for that same MWh (yes, positive MLFs do exist!)
Jemalong is not likely to be subject to market curtailment (i.e. self-curtailment when spot prices go negative) or technical curtailment (system security issues) as it is in a strong part of the grid, and NSW spot prices are almost never negative.
So, despite Jemalong likely having a slightly lower capacity factor/solar irradiation than Kidston SF, it will almost certainly produce significant more revenue for Genex (and shareholders). Looking forward to watching the commissioning and see how she performs!
