Electric Power Development Co., Ltd. (J-POWER, headquartered in Chuo-ku, Tokyo; President: Hitoshi Kanno) announced today the signing of a joint development agreement with Genex Power Limited (Genex, headquartered in Sydney, Australia).

The agreement gives J-POWER a 50% interest in a multi-staged solar power generation and battery project at Bulli Creek, Queensland, Australia (the 'Bulli Creek Project'). Alongside the joint development agreement, J-POWER signed an agreement to provide Genex with a corporate loan facility of AUD 35 million

Genex develops and operates renewable energy generation and storage projects in Australia. J-POWER invested in Genex in May 20211 and has since been working closely with Genex to develop renewable energy through the joint development of a new wind project. 2 With the provision of a corporate loan financing to Genex and the joint development of the Bulli Creek Project, J-POWER will further accelerate and increase renewable energy development in Australia.

J-POWER's goal is to achieve carbon neutrality through power generation by 2050, and we will promote the further development of renewable energy both in Japan and overseas, as set out in J-POWER BLUE MISSION 2050, announced on February 26, 2021.

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