Frontier Energy Plans 1GW Waroona Renewable Energy Park Expansion

• Multi-stage expansion targeting approximately 1GW of solar generation and 660MW of battery storage by 2031 across four development stages
• Development timeline corresponds with planned retirement of 1.3GW to 1.7GW of coal and gas generation assets in Western Australia before 2031
• Project does not require construction of new grid transmission infrastructure, connecting through existing Landwehr Terminal 0.5 kilometres from site
• Stage One (120MW solar, 81.5MW battery) targeting October 2027 commercial operations; Stage Two (approximately 120MW solar, 80MW battery) holds development approval
• Company holds 830 hectares of freehold land and existing grid connection agreement, with Stage Two connection application submitted to Western Power

Frontier Energy Limited (ASX: FHE) is an Australian company developing the Waroona Renewable Energy Project near Waroona, Western Australia. The company is progressing plans to expand the initial project into a multi-stage renewable energy precinct termed Waroona Energy Park. Frontier has assembled a freehold land position of 830 hectares located 0.5 kilometres from the Landwehr Terminal grid connection point.

Multi-Stage Expansion Plan Targeting 1GW Solar and 660MW Battery Storage by 2031

Frontier Energy has outlined a four-stage expansion plan for Waroona Energy Park. Stage One comprises 120MW of solar generation and 81.5MW of battery storage, with commercial operations targeted for October 2027 subject to final capacity awards and project financing. Stage Two is proposed at approximately 120MW solar and 80MW battery capacity, with development approval already obtained. The company is targeting revenue certainty for Stage Two during 2026 to underpin financing.

Stage Three is sized at approximately 200MW of solar generation and 140MW of battery storage. Stage Four would deliver approximately 560MW of solar and between 300MW to 360MW of battery capacity. The combined development would total approximately 1GW of solar generation and 600MW to 660MW of battery storage by 2031. Development approval for Stage Three is scheduled to commence in 2026, whilst Stage Four land acquisition discussions have commenced.

Key work programmes for Stage Two include completing a definitive feasibility study in 2026, finalising environmental approvals to enable construction commencement in 2026, advancing the network access application with Western Power including development of a generator performance standard model, and obtaining revenue certainty through power purchase agreement discussions and application into Tender 5 of the Australian Government's Capacity Investment Scheme. Work programmes for Stages Three and Four during 2026 involve commencing environmental, heritage and development applications.

Grid Connection Through Existing Landwehr Terminal Infrastructure

Waroona Energy Park is located 0.5 kilometres from the Landwehr Terminal. Stage One will connect into a 33kV/330kV substation on site, which connects to the existing Western Power Landwehr Terminal substation via a 330kV single circuit transmission line. The Australian Energy Market Operator's 2025 Electricity Statement of Opportunities identified the Landwehr and Kwinana Terminals as maintaining grid strength through at least 2031, with this analysis including Stage One.

The Western Australian government released the Southwest Interconnected System Transmission Plan in September 2025, outlining grid expansion projects. Phase One involves construction of the Clean Energy Link North, a transmission project expected to be completed by 2027 at a cost of $1.2 billion to unlock an additional 1GW of transmission capacity. Additional grid expansions are planned between 2029 and 2035, with cost estimates not yet released.

Frontier has executed an electricity transfer access contract with Western Power for Stage One, enabling electricity sales into the Southwest Interconnected System once connected. The company has submitted an electricity transfer access contract application for Stage Two. Expansions beyond Stages One and Two would require an amendment to the existing contract or an entirely new contract.

Chief Executive Officer Adam Kiley commented:

"Frontier's strategy is not contingent upon major grid expansion, which involves significant time and cost for both government and consumers. These competitive advantages provide unobstructed 'speed to market' ensuring that the Waroona Energy Park will become a key pillar of WA's energy transition and the key driver of long-term value creation for Frontier's shareholders."

Alignment with Western Australia Coal and Gas Asset Retirements

The Australian Energy Market Operator published the 2025 Electricity Statement of Opportunities in June 2025, identifying scheduled retirements of coal and gas assets in Western Australia. The planned retirements total between 1.3GW to 1.7GW of capacity before 2031, representing 28% of capacity and 33% of generation on the South West Interconnected System based on the 12 months to 2 October 2025.

The Western Australian government's Southwest Interconnected System Transmission Plan, released in September 2025, outlined a strategy to "enable the retirement of all State-owned coal generation assets by 2030." Premier Roger Cook stated the government's intention to "get out of coal fired power generation faster than any other state."

CEO Adam Kiley commented:

"Western Australia is undergoing a major energy transition, with the planned retirement of at least 1.3GW of ageing coal and gas generation assets before 2031. Frontier's Waroona Energy Park has the potential to play a major role in replacing this energy through our integrated solar / battery expansion strategy. Importantly, Frontier's strategy is not contingent upon major grid expansion, which involves significant time and cost for both government and consumers. The Company has been putting the building blocks in place to execute the planned expansion of Waroona for some time, with a freehold landholding of 830ha, grid connections, key approvals and an experienced team in place to deliver this strategy."

Project Milestones and Development Timeline

Stage One is targeting commercial operations by October 2027, subject to final reserve capacity awards and completion of project financing. For Stage Two, Frontier is targeting revenue certainty during 2026 to underpin financing, with key work programmes scheduled for completion in 2026 including the definitive feasibility study, environmental approvals, and advancement of the network access application with Western Power.

Work programmes for Stages Three and Four are expected to commence during 2026, involving environmental, heritage and development applications. Stage Three development approval is scheduled to commence in 2026. Expansions beyond Stages One and Two would require an amendment to the existing electricity transfer access contract or a new contract, with an estimated 12-month timeline for the connection process. Land acquisition discussions for Stage Four have commenced to complete the 830-hectare landholding.

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