Update on Aurora Energy Precinct transmission access

1414 Degrees Ltd (ASX: $14D) has announced that its joint venture SiliconAurora Pty Ltd, in collaboration with Vast Renewables Limited, has entered into a term sheet with Vast Solar 1 Pty Ltd and OZ Minerals Services Pty Ltd, a subsidiary of BHP Group Limited, to potentially obtain access to the ElectraNet owned 275kV Hill-to-Hill Transmission Line (H2H) for connecting the initial stages of the Aurora Energy Precinct.

Executive commentary on the term sheet agreement

The term sheet agreement with Vast Solar and OZ Minerals Services marks a significant step towards securing access to the transmission line, which is crucial for the development of the Aurora Energy Precinct. We are committed to working closely with all parties involved to ensure a mutually beneficial binding agreement is reached by the specified timeline. This aligns with our strategic vision to deliver clean industrial heat and contribute to the decarbonization of high temperature industry and power generation.

Summary of Aurora Energy Precinct transmission access update

1414 Degrees' joint venture, SiliconAurora, has made progress towards potentially obtaining access to the ElectraNet owned 275kV Hill-to-Hill Transmission Line for connecting the initial stages of the Aurora Energy Precinct. The term sheet sets out an in-principle process for negotiations with Vast Solar and OZ Minerals Services, with the aim of reaching a binding agreement by 30 September 2024. This development aligns with 1414 Degrees' focus on delivering clean energy solutions and marks a significant milestone in the company's efforts to decarbonize high temperature industry and power generation.