🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 01 OF 06 · ARCHETYPE A · MULTI-LOT INDUSTRIAL SUBDIVISION
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT IRONBARK — 180 ha Northern Corridor Heavy Industrial Park
NORTH-EAST METRO LGA · $79.8M settled Aug 2026 · ~130 industrial lots · 6.40 MW full build · Intercept: T-36 to T-24m
| Owner / SPV Proof |
VICTORIAN PRIVATE DEVELOPER A via two sequential SPVs incorporated on the exact same day (07 May 2026): SPV ALPHA-1 PTY LTD (ACN 697 XXX XXX) and SPV ALPHA-2 PTY LTD (ACN 697 XXX XXX — Corporate Trustee). ASIC VERIFIED Reported $79.8M (~$80M) acquisition settled in August 2026. |
| Size & Lot Yield |
176.0–180.0 ha gross (~135 ha net developable industrial land) yielding ~130 general & heavy industrial lots along the freight corridor. |
| Est. Electrical Load |
6.40 MW diversified maximum demand (~7.11 MVA at 0.90 PF) and 25.60 GWh/yr energy consumption (calibrated at 0.036 MW/gross ha to match ERA industrial licence filings). CALIBRATED LOAD Sits dead-centre in the 4–10 MW Goldilocks zone. |
| Stage & Intercept Window |
Phase 2–3 (Post-Settlement / Pre-WAPC Subdivision Lodgement · T-36 to T-24 Months). Land settled Aug 2026; zero subdivision lots lodged on SLIP yet. Catching the developer before Western Power UDS feeder quotes are locked in. |
| Corridor Bolt-On Upside |
Sits in the same radial corridor as TIER-1 DEVELOPER RESIDENTIAL ESTATE (5–8 MVA) and LAND-LEASE VILLAGE SPV (237 HOMES, ~1.2 MW), enabling a 12.6–15.6 MW multi-site corridor hub. |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- Regulator-Proven 22 kV Feeder Starvation: While UPSTREAM ZONE SUBSTATION (MUC) shows nominal transformer capacity on paper until 2030, the 7 Jan 2026 ERAWA microgrid licence decision for the neighbouring industrial park explicitly proved that Western Power lacks 22 kV distribution feeder capacity in this corridor, stalling conventional industrial connections.
- The Historical Structure Plan Smoking Gun (<2 MVA Local Line): The existing local 22 kV radial feeder past HIGHWAY LOT BOUNDARY has less than 2.0 MVA spare capacity. Supplying a 6.40 MW (~7.11 MVA) industrial park requires trenching a brand-new 19 km dedicated 22 kV feeder back to the zone substation.
- Mandatory 2026/27 C&I Rooftop Solar Export Trap: Across 130 industrial warehouses, mandatory rooftop solar (3–5 MWp+) will saturate the weak local 22 kV voltage regulator at midday unless absorbed by an on-site central BESS.
WHY A PRIVATE MICROGRID WINS HERE
- Single Counterparty ($80M Skin in the Game): One private Victorian developer owns the entire 180 ha parcel and needs to release Stage 1 industrial titles fast to service debt/equity on an $80M land purchase.
- Out-of-State Developer Blind Spot: Because the buyer is headquartered in regional Victoria (Ballarat/Melbourne), they do not have entrenched WA Western Power workarounds and need a local turnkey BOO power partner.
- Zero-CapEx Headworks Rescue: Instead of waiting 3–4 years and paying $8M–$12M to trench 19 km of 22 kV cable from the substation, a 3.5 MVA skinny boundary connection + 4.5 MWp Solar + 3.5 MW / 10 MWh BESS energises Stage 1 in 12–15 months.
- 95% Retail/Network Annuity + 5% WEM IRCR Credits: 130 C&I tenants pay 20–25% below the $536k/2GWh bundled grid benchmark behind a single master boundary meter, while the BESS captures ~$756k/yr in WEM Reserve Capacity (IRCR) credits.
CLOSEST ZENITH PRECEDENT
Muchea Industrial Park (EDL10/ERL33 Amendment, approved 7 Jan 2026) & Peel Business Park (EDL7/ERL28): Almost identical hectarage (180 ha vs. Muchea's 145 ha and Peel Phase 1's 120 ha) and identical 22 kV radial feeder bottleneck.
WHO TO APPROACH (VERIFIED CHANNELS)
- Primary Decision-Maker: Managing Director, VICTORIAN PRIVATE DEVELOPER A (PHONE & EMAIL HELD BY HATTR).
- Warm Engineering Channel: TIER-1 WA CIVIL/ELECTRICAL ENGINEER (authored the historical servicing report for this exact parcel).
- Cluster Neighbours: TIER-1 RESIDENTIAL DEVELOPER & LIFESTYLE VILLAGE DEVELOPER in the same corridor.
LICENCE & REGULATORY ROUTE
Direct annexation onto existing EDL10/ERL33 (following the 7 Jan 2026 ERAWA precedent that added Muchea Industrial Park just 6 km away) or standalone EDL/ERL.
Key Risk
Troon is early in its post-settlement masterplanning; if approached too late (after they lodge a standard Western Power 7 MVA feeder inquiry), they will lose 9–12 months waiting for the utility shock letter.
Next Step
Unlock hattr's unredacted ASIC SPV & contact pack to approach VICTORIAN DEVELOPER A and HISTORICAL ENGINEER before WAPC subdivision lodgement.
1 Federal ASIC Register (07 May 2026 SPV incorporations) & Aug 2026 settlement records (ACNs & URLs REDACTED IN TEASER) · 2 ERA Decision EDL10/ERL33 Amendment (7 Jan 2026) · 3 Historical Structure Plan 22kV Servicing Report (URL REDACTED) · 4 Slide 4 Unbundled C&I Tariff Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 01 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT IRONBARK — 180 ha Northern Corridor Heavy Industrial Park — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
GROSS / NET AREA
180.0 / 135.0 ha
~130 Industrial Lots
ULTIMATE PEAK LOAD
6.40 MW (7.11 MVA)
25.60 GWh/yr (12.8x Ref)
22kV FEEDER DEFICIT
-5.11 MVA Shortfall
<2.0 MVA Local Line Cap
25-YR BOO REVENUE
$140.8M Contracted
$2.45M/yr Net EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — Gross Hectare to Diversified MW Load (ERA EDL10 Industrial Benchmark)
176.0–180.0 ha gross × 0.036 MW/gross ha = 6.40 MW diversified peak demand (7.11 MVA @ 0.90 PF)
Matches Zenith's own ERAWA EDL10 load forecast density for Muchea Industrial Park (~5.0 MW across 140 ha).
Step 2 — Annual Estate Energy Consumption (GWh/yr at 45.7% Industrial Load Factor)
6.40 MW peak × 4,000 equivalent full-load hrs/yr = 25.60 GWh/yr (12.80 × the 2.0 GWh Slide 4 C&I reference unit)
Equivalent to ~130 light/heavy fabrication, logistics, transport depot, and cold-storage workshops averaging ~197 MWh/yr each.
Step 3 — Western Power 22 kV Feeder Deficit & Boundary CMD Sizing
7.11 MVA Ultimate Demand − 2.00 MVA Existing Stock Rd Feeder Limit = 5.11 MVA Feeder Deficit
Instead of paying $8M–$12M to trench 19 km of new 22 kV cable from Muchea ZS, Zenith bridges the estate behind a 3.50 MW (3.89 MVA) skinny boundary meter + 3.50 MW / 10.0 MWh BESS + 4.50 MWp Solar PV.
Step 4 — Stage-by-Stage Ramp Schedule (Years 1 to 5)
Yr 1 (Stage 1, 30 lots): 1.50 MW (6.0 GWh) → Yr 3 (75 lots): 3.70 MW (14.8 GWh) → Yr 5 (130 lots): 6.40 MW (25.6 GWh)
Modular BESS blocks (2 × 5.0 MWh containers) scale in lockstep with lot settlements so CapEx never outruns tenant connections.
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Western Power Boundary Connection (CMD) |
3.50 MW (3.89 MVA) |
Single 22 kV Bi-Directional Master Meter (avoids >4 MW deep augmentation trigger) |
| Embedded Rooftop + Central Solar PV |
4.50 MWp DC / 3.60 MW AC |
Generates ~7.43 GWh/yr (1,650 kWh/kWp); zero net export trap (<10 MW AC inverter) |
| Central Community LFP Battery (BESS) |
3.50 MW / 10.00 MWh |
2.86-hr duration; absorbs midday solar belly (10:00–15:00) & shaves evening + IRCR peaks |
| On-Site Solar + BESS Self-Sufficiency |
~42.0% Behind-the-Meter |
10.75 GWh/yr supplied locally via Solar+BESS; 14.85 GWh/yr imported off-peak via skinny meter |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 25.60 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (12.8x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$2,562,867 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$2,055,757 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$1,145,267 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$761,677 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$299,622 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$6,866,539 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (25.60 GWh/yr) | $6,866,539/yr |
| Less: Customer Tariff Discount (22.0%) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $5,355,900/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
3.50 MW shaved during the 12 Hot-Season WEM Peak Trading Intervals × ~$216,000/MW/yr net IRCR/capacity value | +$756,000/yr |
| Total Addressable Microgrid Revenue | $6,111,900/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 14.85 GWh off-peak grid import (@ ~10.0 c/kWh), single 3.5 MW CMD network charge, O&M, and ERA licence compliance | −$3,661,900/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $2,450,000 / yr |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Solar PV (4.5 MWp @ $1.15M/MWp = $5.18M) + BESS (10.0 MWh @ $0.58M/MWh = $5.80M) + 22kV Switchgear/Microgrid Controller ($2.82M) = $13.80M Total CapEx
Project Returns & Contracted Annuity
5.6 Years Simple Payback · ~16.4% Unlevered Pre-Tax IRR · $140.8M 25-Year Contracted Revenue
Why the Developer Signs (CapEx & Time Saved)
Saves Troon Group $8.0M–$12.0M in upfront 19 km Muchea 22 kV feeder headworks and accelerates Stage 1 lot titles by 24–36 months (saving ~$4.8M/yr in land holding costs on an $80M purchase).
1 Federal ASIC Register (07 May 2026 SPV incorporations) & Aug 2026 settlement records (ACNs & URLs REDACTED IN TEASER) · 2 ERA Decision EDL10/ERL33 Amendment (7 Jan 2026) · 3 Historical Structure Plan 22kV Servicing Report (URL REDACTED) · 4 Slide 4 Unbundled C&I Tariff Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 02 OF 06 · ARCHETYPE A · INSTITUTIONAL LOGISTICS & INDUSTRIAL PARK
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT CATALPA — South-East Corridor Institutional Industrial Stage 2
SOUTH-EAST METRO LGA · Institutional Fund V SPV reg Jun 2026 · ~5.50 MW high-density logistics · Intercept: T-24 to T-12m
| Owner / SPV Proof |
SYDNEY INSTITUTIONAL FUND V via newly incorporated SPV FUND V STAGE 2 PTY LTD (ACN 698 XXX XXX, reg 03 Jun 2026), alongside sister WA industrial SPVs FUND V MARINE HUB PTY LTD (ACN 690 XXX XXX) and BUSINESS PARK DEVELOPMENTS PTY LTD (ACN 689 XXX XXX, GST Active 23 Jun 2026). ASIC + ABR VERIFIED |
| Size & Asset Profile |
~45–65 ha gross expansion stage (~18–25 institutional logistics, automated distribution, automotive processing, and cold-storage lots) building on Stage 1 (tenanted by GPC Asia Pacific / Repco, Autocare & PrixCar). |
| Est. Electrical Load |
5.50 MW diversified peak demand (~6.11 MVA) and 22.00 GWh/yr energy consumption across automated conveyor, HVAC, cold-chain, and heavy EV fleet charging loads. MODELLED C&I LOAD |
| Stage & Intercept Window |
Phase 3–4 (SPV Incorporated 03 Jun 2026 · Stage 2 Pre-Civil / Pre-HV Lock-In · T-24 to T-12 Months). Stage 1 is built; Stage 2 SPV was incorporated 4.5 months ago to fund the next land/development release. |
| Warm Local Gatekeeper |
Because the fund is based in Sydney, it appointed WA PROJECT SUPERINTENDENT B (SOUTH PERTH) as its local WA Project Manager & Superintendent — giving a direct Perth mobile relationship. |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- Ground-Zero of WA's Largest Active NSSS Thermal Deficit (37.01 MW): The precinct sits on the boundary of ZONE SUBSTATION SNR (<5 MVA) and ZONE SUBSTATION BYF (<5 MVA), where Western Power declared a 30.97 MW (2026) rising to 37.01 MW (2027) peak thermal capacity deficit under Coordinator of Energy NCESS determinations.
- Institutional Tenant Power Starvation: National logistics tenants (like Repco/GPC and cold-chain operators) now require 500 kVA–1.5 MVA per warehouse for automated racking and EV truck chargers, but Western Power cannot allocate new multi-MVA firm capacity on Southern River / Byford feeders without multi-year delays.
- Massive Contiguous Warehouse Roof Area: 150,000+ m² of institutional logistics roof space across Stage 1 & Stage 2 can host 5.0+ MWp of solar PV directly above the load, soaked up by a central precinct battery.
WHY A PRIVATE MICROGRID WINS HERE
- Institutional Counterparty Who Understands Yield-on-Cost: Fife Capital is a sophisticated institutional industrial landlord — turning roof space + a single boundary meter into a green-certified, power-guaranteed logistics park increases tenant retention and asset valuation.
- NCESS / NSSS Non-Network Support Upside: Because Byford/Southern River has an active 37 MW thermal deficit, a 3.0 MW / 9.0 MWh central BESS in Forrestdale can stack WEM IRCR credits with Western Power Non-Network Support (NSSS/NCESS) payments.
- Multi-Site Portfolio Repeatability: Winning Fife Capital on `TAP V Forrestdale 2` immediately opens the door to `TAP V Henderson` (defence/marine logistics hub in the constrained Bibra Lake / Cockburn zone) and `Catalpa Drive Kemerton`.
- Zero CapEx to the Fund: Zenith funds 100% of the solar + BESS + embedded HV ring under a 25-year BOO structure while guaranteeing tenants a 20–25% discount off bundled Synergy C&I tariffs.
CLOSEST ZENITH PRECEDENT
Peel Business Park (EDL7/ERL28) & Muchea Industrial Park (EDL10): Same industrial logistics/business park DNA, located just 20 minutes north of Peel in Perth's premier South-East logistics corridor (Rowley Rd / Tonkin Hwy).
WHO TO APPROACH (VERIFIED CHANNELS)
- Warmest WA Entry Point (Project Superintendent): Directors of WA PROJECT SUPERINTENDENT B (DIRECT MOBILES HELD BY HATTR).
- Institutional Fund Principal: Managing Director, SYDNEY INSTITUTIONAL FUND V (SYDNEY DIRECT LINE HELD BY HATTR).
- WA Industrial Builder on Site: WA INDUSTRIAL BUILDER B (delivered Stage 1 facilities).
LICENCE & REGULATORY ROUTE
EDL10/ERL33 non-contiguous licence-area amendment (per 7 Jan 2026 ERAWA precedent) or embedded network exemption + retail licence coverage.
Key Risk
Stage 1 warehouses are already energised on standard connections; the pitch must target the newly incorporated Stage 2 SPV (`TAP V Forrestdale 2`) and/or a behind-the-meter microgrid retrofit across Stage 1 + Stage 2.
Next Step
Unlock hattr's unredacted contact pack to call WA PROJECT SUPERINTENDENT B in South Perth before Stage 2 HV servicing is finalised.
1 Federal ASIC Register (03 Jun 2026 & 14 Aug 2025 SPV incorporations; ACNs REDACTED) · 2 Western Power NCMT & Coordinator of Energy NCESS Byford 37.01 MW Determination · 3 WA Superintendent Project Portfolio (URL REDACTED) · 4 Slide 4 Unbundled C&I Bill Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 02 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT CATALPA — South-East Corridor Institutional Industrial Stage 2 — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
EXPANSION FOOTPRINT
~55 ha Stage 2
18–25 Institutional Lots
ULTIMATE PEAK LOAD
5.50 MW (6.11 MVA)
22.00 GWh/yr (11.0x Ref)
SUBSTATION DEFICIT
37.01 MW NSSS Shortfall
SNR / BYF <5 MVA Zone
25-YR BOO REVENUE
$131.6M Contracted
$2.15M/yr Net EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — Institutional Logistics & Cold-Chain Load Density
20 institutional warehouse/distribution lots × 275 kW diversified demand/lot = 5.50 MW peak (6.11 MVA @ 0.90 PF)
Driven by automated high-bay racking, temperature-controlled logistics, automotive processing, and heavy EV delivery truck charging.
Step 2 — Annual Estate Energy Consumption (GWh/yr at 45.7% Load Factor)
5.50 MW peak × 4,000 equivalent full-load hrs/yr = 22.00 GWh/yr (11.00 × the 2.0 GWh Slide 4 C&I reference unit)
Each 10,000–20,000 m² national logistics facility consumes ~1.1 GWh/yr (~$295k/yr each at standard bundled tariffs).
Step 3 — Bridging the <5 MVA Southern River / Byford Substation Bottleneck
6.11 MVA Estate Demand − 3.00 MW (3.33 MVA) Skinny Boundary Connection = 2.78 MVA Peak Shaved by BESS + Solar
Keeps boundary import <=3.0 MW during the 16:00–21:00 SWIS peak, qualifying for both WEM IRCR credits and Byford/SNR NSSS network support.
Step 4 — Rapid 3-Year Institutional Build-Out Ramp
Yr 1 (6 lots): 1.80 MW (7.2 GWh) → Yr 2 (14 lots): 3.90 MW (15.6 GWh) → Yr 3 (20 lots): 5.50 MW (22.0 GWh)
Institutional fund estates lease to national blue-chip covenants 2x faster than fragmented council subdivisions.
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Western Power Boundary Connection (CMD) |
3.00 MW (3.33 MVA) |
Single 22 kV Bi-Directional Master Meter (fits inside constrained SNR/BYF feeder rules) |
| Warehouse Rooftop Solar PV Array |
5.00 MWp DC / 4.00 MW AC |
Utilises ~28,000 m² of warehouse roofs; generates ~8.25 GWh/yr right on top of daytime C&I loads |
| Central Precinct LFP Battery (BESS) |
3.00 MW / 9.00 MWh |
3.0-hr duration; shifts midday warehouse solar to evening dispatch & EV truck overnight charging |
| On-Site Solar + BESS Self-Sufficiency |
~45.5% Behind-the-Meter |
10.00 GWh/yr supplied via on-site Solar+BESS; 12.00 GWh/yr imported off-peak |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 22.00 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (11.0x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$2,202,464 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$1,766,666 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$984,214 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$654,566 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$257,488 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$5,900,932 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (22.00 GWh/yr) | $5,900,932/yr |
| Less: Customer Tariff Discount (22.0%) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $4,602,727/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
3.00 MW peak shaved across the 12 Hot-Season IRCR intervals + NSSS/NCESS thermal support value (~$220k/MW/yr) | +$660,000/yr |
| Total Addressable Microgrid Revenue | $5,262,727/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 12.00 GWh off-peak grid import, single 3.0 MW CMD network tariff, roof lease/solar share, and O&M | −$3,112,727/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $2,150,000 / yr |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Rooftop Solar PV (5.0 MWp @ $1.05M/MWp = $5.25M) + Central BESS (9.0 MWh @ $0.58M/MWh = $5.22M) + Embedded 22kV Ring & Metering ($1.73M) = $12.20M Total CapEx
Project Returns & Contracted Annuity
5.7 Years Simple Payback · ~16.2% Unlevered Pre-Tax IRR · $131.6M 25-Year Contracted Revenue
Why the Developer Signs (CapEx & Time Saved)
Eliminates multi-year Southern River / Byford HV augmentation delays for Fife Capital's Stage 2 tenants, turns dead warehouse roofs into an ESG green-leasing magnet, and requires $0 CapEx from the fund.
1 Federal ASIC Register (03 Jun 2026 & 14 Aug 2025 SPV incorporations; ACNs REDACTED) · 2 Western Power NCMT & Coordinator of Energy NCESS Byford 37.01 MW Determination · 3 WA Superintendent Project Portfolio (URL REDACTED) · 4 Slide 4 Unbundled C&I Bill Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 03 OF 06 · ARCHETYPE A · GREEN MANUFACTURING & HEAVY INDUSTRIAL CLUSTER
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT GEOPOLYMER — South-West SIA Circular Manufacturing & Industrial Hub
SOUTH-WEST INDUSTRIAL LGA · Stealth SPV GST Active Sep 2025 · 4.0–7.5 MW high-load-factor C&I · Intercept: T-24m
| Owner / SPV Proof |
CIRCULAR MATERIALS VENTURE C via stealth property SPV STEALTH PROPERTY (SIA) PTY LTD (ACN 691 XXX XXX / ABN 51 691 XXX XXX), incorporated 16 Sep 2025 with GST activated 26 Sep 2025. ASIC + ABR VERIFIED Public website still reads 'Our Projects: Coming Soon'. Adjacent industrial release held by CATALPA DEVELOPMENTS SPV (ACN 689 XXX XXX, GST Active 23 Jun 2026). |
| Size & Process Profile |
24/7 Circular Construction Materials Manufacturing Facility (processing South-West alumina/lithium/silicon industrial byproducts into low-carbon geopolymer materials) + adjacent Catalpa Drive Kemerton heavy industrial subdivision lots. |
| Est. Electrical Load |
4.00 MW core plant continuous/high-load-factor demand (22.80 GWh/yr at 65% load factor for milling, thermal curing & batching), expanding to 7.50 MW (~34.8 GWh/yr) when bundled with adjacent Catalpa Drive Kemerton industrial lots. MODELLED PROCESS LOAD |
| Stage & Intercept Window |
Phase 2–3 (Site SPV GST-Activated · Pre-Public Announcement & Pre-DA Lodgement · T-24 Months). Caught via ASIC/ABR forensics before any public press release or DAP filing. |
| Mandatory Green Scope 2 Hook |
Because the plant manufactures certified low-carbon circular construction materials for Tier-1 WA miners and infrastructure projects, buying coal-heavy grid power ruins its Scope 2 product carbon footprint — making an on-site Solar + BESS microgrid mission-critical. |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- Kemerton SIA HV Capacity Squeeze: Fed by ZONE SUBSTATION MRR (MARRIOTT RD) / Kemerton in the South-West SWIS, where heavy industrial expansions (lithium hydroxide trains & silicon smelters) have locked up available HV feeder headroom and triggered multi-year Western Power connection queues.
- High Load Factor = Maximum Solar + BESS Utilisation: Unlike residential estates that only peak for 3 hours in the evening, a continuous industrial materials plant runs heavy daytime shifts (absorbing 100% of midday solar PV) plus evening curing cycles.
- Adjacent Precinct Cluster Opportunity: Combining Ciraterra's Kemerton plant (`~4.0 MW`) with the adjacent `100 Catalpa Drive, Kemerton` industrial subdivision (`CATALPA BUSINESS PARK DEVELOPMENTS PTY LTD`, GST active `23 Jun 2026`) creates a single Kemerton SIA microgrid hub.
WHY A PRIVATE MICROGRID WINS HERE
- Executive Team Speaks Infrastructure & BOO Fluently: Co-founder Ian Meares is a KPMG Engineering Partner and former National MD of Brookfield Multiplex Engineering & Infrastructure who has led alumina decarbonisation and wind/solar/BESS projects — he immediately understands a 25-year off-balance-sheet BOO PPA/microgrid.
- Preserves Startup Capital for Core Manufacturing Plant: As a growth-stage industrial manufacturer commercialising Curtin University IP, Ciraterra wants 100% of its equity/debt deployed into processing equipment, not $13M of electrical headworks and solar/battery CapEx.
- Delivers Verifiable Behind-the-Meter Renewable Certificates (LGCs): Direct wire connection from Zenith's solar + BESS array gives Ciraterra auditable zero-emission Scope 2 power for its Environmental Product Declarations (EPDs).
CLOSEST ZENITH PRECEDENT
Peel Business Park (EDL7/ERL28) + Zenith Remote/Hybrid C&I BOO Model: Combines Zenith's traditional single-customer industrial BOO expertise with an expandable Kemerton SIA precinct licence (similar to Peel EDL7 and Busselton EDL10).
WHO TO APPROACH (VERIFIED CHANNELS)
- Co-Founder & Commercial/Legal Lead: Principal at PERTH COMMERCIAL LAW FIRM C (DIRECT LANDLINE & EMAIL HELD BY HATTR).
- Co-Founder & Engineering Lead: Partner, Engineering & Asset Management at BIG-4 ADVISORY FIRM PERTH (DIRECT LANDLINE HELD BY HATTR).
- Adjacent Kemerton Landholder: CATALPA DEVELOPMENTS SPV (100 Catalpa Dr, Kemerton).
LICENCE & REGULATORY ROUTE
Single-site behind-the-meter BOO PPA / embedded network or EDL10/ERL33 non-contiguous licence amendment covering the wider Catalpa Drive Kemerton precinct.
Key Risk
Plant engineering and environmental approvals are still in pre-DA design; Zenith must engage Ian Meares & Matt Barone now so the microgrid is baked into their EPA/DWER and Western Power applications from Day 1.
Next Step
Unlock hattr's unredacted dossier to call CO-FOUNDER ENGINEERING PARTNER and CO-FOUNDER LEGAL PRINCIPAL in Perth.
1 Federal ASIC & ABR Registers (Reg 16 Sep 2025, GST Active 26 Sep 2025; ACN/ABN REDACTED) · 2 Corporate Filings & Curtin University Commercialisation Records (URL REDACTED) · 3 Kemerton SIA / Marriott Rd Substation Data · 4 Slide 4 Unbundled C&I Bill Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 03 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT GEOPOLYMER — South-West SIA Circular Manufacturing & Industrial Hub — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
PLANT + PRECINCT LOAD
4.00 MW Core (7.5 MW Hub)
22.80 GWh/yr (65% LF)
BOUNDARY METER CMD
2.50 MW (2.78 MVA)
1.50 MW Peak Shaved
RENEWABLE FRACTION
~48.5% Behind-the-Meter
Scope 2 Green EPD Ready
25-YR BOO REVENUE
$136.6M Contracted
$2.28M/yr Net EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — Continuous Circular Materials Process Demand (High Load Factor C&I)
4.00 MW peak process demand × 5,700 equivalent full-load hrs/yr (65% LF) = 22.80 GWh/yr (11.40 × the 2.0 GWh Slide 4 unit)
Industrial grinding, geopolymer mixing, and thermal curing run high daytime/evening duty cycles (plus +12.0 GWh/yr upside on adjacent Catalpa Dr lots).
Step 2 — Why High Load Factor Supercharges Slide 4 Network & IRCR Savings
Standard Bundled Tariff @ 22.80 GWh = $6,115,512/yr ($1,830,908 WP Network + $1,020,004 IRCR Peak Capacity)
By shaving peak demand behind a 2.50 MW boundary connection and supplying 11.05 GWh/yr via on-site Solar+BESS, over 50% of non-energy charges are displaced.
Step 3 — Optimal Solar PV + 3.4-Hour BESS Dispatch Physics
5.50 MWp Ground/Roof Solar PV (~9.08 GWh/yr) + 3.50 MW / 12.00 MWh BESS = 11.05 GWh/yr Behind-the-Meter Dispatch
Daytime milling directly consumes ~5.2 GWh of live solar; the 12 MWh BESS stores ~3.9 GWh of excess solar + off-peak power to flatten the 16:00–21:00 peak.
Step 4 — Expansion to Full Catalpa Drive Kemerton Hub (7.50 MW / 34.80 GWh/yr)
Adding the adjacent 100 Catalpa Dr industrial subdivision (+3.50 MW / +12.00 GWh/yr) lifts BOO EBITDA from $2.28M/yr to ~$3.45M/yr
Gives Zenith a second South-West industrial microgrid hub halfway between Peel Business Park (EDL7) and Busselton (EDL10).
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Western Power Boundary Connection (CMD) |
2.50 MW (2.78 MVA) |
Single 22 kV HV connection (bypasses Kemerton SIA deep augmentation queue) |
| On-Site Ground + Roof Solar PV |
5.50 MWp DC / 4.40 MW AC |
Generates ~9.08 GWh/yr with retired LGCs for Ciraterra's low-carbon product certification |
| Industrial LFP Battery System (BESS) |
3.50 MW / 12.00 MWh |
3.4-hr duration; guarantees firm power quality and shaves 100% of Hot-Season IRCR intervals |
| On-Site Solar + BESS Self-Sufficiency |
~48.5% Behind-the-Meter |
11.05 GWh/yr supplied locally; 11.75 GWh/yr imported off-peak via skinny boundary meter |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 22.80 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (11.4x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$2,282,554 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$1,830,908 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$1,020,004 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$678,368 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$266,851 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$6,115,512 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (22.80 GWh/yr) | $6,115,512/yr |
| Less: Customer Tariff Discount (21.5%) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $4,800,677/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
3.08 MW net peak reduction across WEM Hot-Season IRCR intervals × ~$216,000/MW/yr capacity credit value | +$665,000/yr |
| Total Addressable Microgrid Revenue | $5,465,677/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 11.75 GWh off-peak grid import, single 2.5 MW CMD network tariff, O&M, and asset insurance | −$3,185,677/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $2,280,000 / yr |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Solar PV (5.5 MWp @ $1.10M/MWp = $6.05M) + BESS (12.0 MWh @ $0.56M/MWh = $6.72M) + HV Switchgear & Microgrid Controls ($1.63M) = $14.40M Total CapEx
Project Returns & Contracted Annuity
6.3 Years Simple Payback · ~15.1% Unlevered Pre-Tax IRR · $136.6M 25-Year Contracted Revenue (Core Plant Only)
Why the Developer Signs (CapEx & Time Saved)
Saves Ciraterra $14.4M in upfront energy infrastructure CapEx, cuts power costs by >21% ($1.31M/yr saving), and delivers certified behind-the-meter renewable power for its green construction materials.
1 Federal ASIC & ABR Registers (Reg 16 Sep 2025, GST Active 26 Sep 2025; ACN/ABN REDACTED) · 2 Corporate Filings & Curtin University Commercialisation Records (URL REDACTED) · 3 Kemerton SIA / Marriott Rd Substation Data · 4 Slide 4 Unbundled C&I Bill Model ($536,448.38 / 2.0 GWh).
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 04 OF 06 · ARCHETYPE B · MASTERPLANNED RESIDENTIAL VPP MICROGRID
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT RANCHVIEW — 262 ha, 2,500-Home Northern Corridor Masterplan
NORTHERN METRO LGA · 261.96 ha · Up to 2,500 dwellings · 13.50 MVA engineered load (3 × 4.5 MVA stages) · Intercept: T-36 to T-12m
| Owner / Coordinator Proof |
Coordinated by PRIVATE WA DEVELOPER D across a consolidated landowner syndicate including SYNDICATE SPV D1, SYNDICATE SPV D2, and SYNDICATE SPV D3 (all verified active on the ABN/ASIC register). LSP + ASIC VERIFIED |
| Size & Dwelling Yield |
261.96 ha gross (169.04 ha net residential area across 39 parent lots) yielding up to 2,500 dwellings (~7,500 residents) — roughly 2.0× Zenith's Eglinton Village (EDL10, 1,260 lots). |
| Engineer's Load Calculation |
The structure plan's own civil engineer (CIVIL ENGINEER D) calculated 13.50 MVA (~12.15 MW) at ultimate build (5.40 kVA/dwelling diversified). Structured as three sequential 4.50 MVA (~833-home) stages, each stage sits squarely inside the ≤4 MW CMD skinny-connection sweet spot. ENGINEER REPORT VERIFIED |
| Stage & Intercept Window |
Phase 3–4 (WAPC Endorsed Subject to Modifications 23 Jul 2025 · Final Approval Pending · T-36 to T-12 Months). Federal EPBC referral covers 3 contiguous lots (15.86 ha, Jun 2026–Jul 2035). Note: Developer's 57-lot boutique estate on ADJACENT SUBURB is outside/adjacent to the main 2,400-lot precinct. |
| Adjacent Precinct 6 Bonus Intel |
Sits next to PRECINCT GAMMA (227.44 HA, ~2,482 DWELLINGS) on the same overloaded substation — where hattr recovered the unreachable S3 archive unmasking lead proponent SPV GAMMA (ACN 623 XXX XXX) and planner PLANNER GAMMA. |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- The Engineer's Own 8 MVA Feeder Warning: In Section 2.1.5.3 of the structure plan, CIVIL ENGINEER D explicitly warns that the 13.5 MVA ultimate load breaches Western Power's rule that "a single dedicated feeder should only be loaded up to 8 MVA" — concluding it is "very likely that the development will require WP power network reinforcement/augmentation" after Stage 1.
- Overloaded Zone Substation Until 2030+: WANNEROO / NORTH METRO ZS (84 MVA) is forecast at 107/110/114/119% (TSP 2025) and 103/106/110/113% (2027–30) rising to 128% (2036) in Draft TSP 2026. The planned load-transfer fix has slipped from 2029 to 2030 and remains uncommitted.
- No Electrical Consultant Named Yet: The LSP lists town planner, civil engineer, environmental, bushfire, and water consultants, but zero electrical/energy partner has been appointed.
WHY A PRIVATE MICROGRID WINS HERE
- Single Coordinating Developer Across 39 Landowners: Unlike fragmented precincts where nobody has authority to sign, Qube Property Group is the single development manager coordinating Precinct 8.
- Solves the Exact Post-Stage-1 8 MVA Feeder Wall: By deploying a 2.5 MVA skinny connection + 2.5 MW / 6.0 MWh community BESS per 833-home stage, Qube can build all 2,500 homes off a single 8 MVA feeder envelope without waiting until 2030+ for Wanneroo ZS relief.
- Exact Carbon-Copy of Zenith's Eglinton Village (EDL10): Eglinton Village (86 ha, ~1,260 lots with Cedar Woods) uses a 6 MWh community BESS + orchestrated rooftop solar VPP; Precinct 8 is simply two Eglintons side-by-side (~9.7 km east of Zenith's Ocean Reef Marina EDL9).
CLOSEST ZENITH PRECEDENT
Eglinton Village (EDL10/ERL33, 86 ha, ~1,260 lots with Cedar Woods) & Ocean Reef Marina (EDL9/ERL32, ~65 ha, 4 MVA connection, 9.7 km west): Direct northern-corridor replication.
WHO TO APPROACH (VERIFIED CHANNELS)
- Coordinating Developer: Managing Director & Development Director at PRIVATE WA DEVELOPER D (DIRECT PHONE & EMAIL HELD BY HATTR).
- Servicing Report Author (Civil Engineer): Directors at CIVIL ENGINEER D (DIRECT PHONE & EMAIL HELD BY HATTR).
- Town Planner: TIER-1 WA TOWN PLANNER D (DIRECT CONTACT HELD BY HATTR).
LICENCE & REGULATORY ROUTE
EDL10/ERL33 non-contiguous licence-area amendment (per 7 Jan 2026 ERAWA precedent) or EDL9 Ocean Reef northern corridor extension.
Key Risk
Final WAPC modification sign-off is pending, and the initial 15.86 ha EPBC lot cell may already have a Stage 1 LV/HV pillar connection application in flight.
Next Step
Unlock hattr's unredacted dossier to approach PRIVATE WA DEVELOPER D and CIVIL ENGINEER D with a stage-by-stage 8 MVA feeder bridge proposal.
1 Draft LSP incl. s2.1.5.3 Engineering Servicing Report (URL REDACTED IN TEASER) · 2 Western Power TSP 2025 & Draft TSP 2026 App E (103–128% utilisation, 2030 slip) · 3 EPBC Referral 2025/REDACTED · 4 ERA EDL10/ERL33 Eglinton Grant & 7 Jan 2026 Amendment.
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 04 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT RANCHVIEW — 262 ha, 2,500-Home Northern Corridor Masterplan — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
ESTATE SCALE
261.96 ha / 2,500 Homes
3 × ~833-Home Stages
ENGINEERED LOAD
13.50 MVA (4.5 MVA/Stg)
18.75 GWh/yr Total
FEEDER BOTTLENECK
13.5 MVA vs 8.0 MVA Cap
Wanneroo ZS 103–128%
30-YR BOO REVENUE
$154.5M Contracted
$2.30M/yr Full EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — JDSi Engineering Load vs. Tom Friberg's Slide 3 Residential Benchmark
JDSi Diversified Method: 2,500 dwellings × 5.40 kVA/home = 13.50 MVA (~12.15 MW) across 3 × 4.50 MVA stages
Note: Under Zenith Slide 3's un-diversified 9.375 kVA/home ratio (15 MVA / 1,600 homes), 2,500 homes would equal 23.4 MVA — making microgrid peak-shaving even more critical.
Step 2 — How Staged Skinny Connections Beat the 8.0 MVA Feeder Rule
3 Stages × 2.50 MVA Skinny Boundary CMD = 7.50 MVA Total Feeder Draw (Staying 100% Inside Western Power's 8.0 MVA Single-Feeder Cap!)
Each 833-home stage pairs a 2.50 MVA boundary connection with a 2.50 MW / 6.00 MWh community BESS + 3.50 MWp orchestrated rooftop/precinct solar VPP.
Step 3 — Annual Estate Energy Consumption (2,500 Homes + Neighbourhood Centre)
2,500 homes × 6,500 kWh/yr (incl. EV/heat-pump electrification) + 2.50 GWh/yr commercial/POS pumping = 18.75 GWh/yr
Equivalent to 6.25 GWh/yr per 833-home stage (or 9.38 × the 2.0 GWh Slide 4 reference energy block across the full precinct).
Step 4 — Replicating Eglinton Village (EDL10) VPP & WEM Reserve Capacity Economics
3 × 2.50 MW Community BESS (7.50 MW / 18.0 MWh total) = ~$1.20M/yr in WEM IRCR Capacity Credits + Project Symphony VPP value
Homeowners receive discounted green tariff + zero solar export curtailment, while Zenith locks in 2,500 captive meters for 30 years.
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Boundary Connection (Per 833-Home Stage / Full) |
2.50 MVA / 7.50 MVA Total |
Fits all 2,500 homes onto a single 8.0 MVA Western Power feeder without deep augmentation |
| Orchestrated Rooftop + Precinct Solar PV |
3.50 MWp/Stg (10.5 MWp Total) |
~5 kWp per home + commercial centre roof; generates ~17.3 GWh/yr across full build |
| Community LFP Battery (Per Stage / Full) |
2.5 MW / 6.0 MWh (×3 Stages) |
Identical to Eglinton EDL10's 6 MWh battery per stage (7.5 MW / 18.0 MWh full build) |
| Local Solar + VPP Self-Sufficiency |
~52.0% Behind-the-Meter |
9.75 GWh/yr supplied via orchestrated VPP + community BESS; 9.00 GWh/yr off-peak import |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 18.75 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (9.4x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$1,878,101 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$1,506,484 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$839,266 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$558,166 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$219,567 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$6,056,250 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (18.75 GWh/yr) | $6,056,250/yr |
| Less: Customer Tariff Discount (20.0% (Resi A1 + C&I)) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $4,845,000/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
5.20 MW diversified hot-season evening peak shaved across 3×6 MWh community batteries × ~$216k/MW/yr IRCR credit | +$1,125,000/yr |
| Total Addressable Microgrid Revenue | $5,970,000/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 9.00 GWh off-peak grid import, 7.5 MVA staged CMD network charges, VPP homeowner solar credits, and O&M | −$3,670,000/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $2,300,000 / yr ($767k/yr per stage) |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Per 833-Home Stage: Community BESS (6.0 MWh @ $0.58M/MWh = $3.48M) + HV/LV Microgrid Switching & VPP Orchestration ($1.12M) = $4.60M/Stage ($13.80M Full 3-Stage Build; homeowner rooftop PV funded via house-and-land packages)
Project Returns & Contracted Annuity
6.0 Years Simple Payback · ~15.8% Unlevered Pre-Tax IRR · $154.5M 30-Year Contracted Revenue
Why the Developer Signs (CapEx & Time Saved)
Allows Qube Property Group to unlock all 2,500 dwellings off a single 8 MVA feeder envelope without waiting until 2030+ for Wanneroo/Joondalup substation upgrades, saving $6M–$10M in HV headworks.
1 Draft LSP incl. s2.1.5.3 Engineering Servicing Report (URL REDACTED IN TEASER) · 2 Western Power TSP 2025 & Draft TSP 2026 App E (103–128% utilisation, 2030 slip) · 3 EPBC Referral 2025/REDACTED · 4 ERA EDL10/ERL33 Eglinton Grant & 7 Jan 2026 Amendment.
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 05 OF 06 · ARCHETYPE B · PEEL CORRIDOR MASTERPLANNED RESIDENTIAL VPP
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT MURRAY WATERS — Peel Corridor Broadacre Residential Acquisition & JV
PEEL REGION LGA · Stealth SPV reg & GST Active 19 Aug 2026 · ~1,100–1,400 lots (~5.4 MW) · 10 mins from live EDL7 microgrid
| Owner / SPV Proof |
STEALTH PEEL SPV E2 (ACN 701 XXX XXX / ABN 31 701 XXX XXX), incorporated and GST-activated on 19 Aug 2026 (8 weeks ago, pre-branding & pre-DA). ASIC + ABR VERIFIED Sister SPV PEEL SPV E1 (ACN 691 XXX XXX) was incorporated 1 day after NATIONAL DEVELOPER JV SPV (ACN 690 XXX XXX) to deliver a 26 ha Peel waterfront estate (EPBC referral lodged 2026), following their earlier joint delivery of a major South Yunderup lakefront community. |
| Size & Dwelling Yield |
~85–110 ha combined Peel residential pipeline (~800–1,000 lots in the new Aug 2026 Pinjarra broadacre acquisition + ~300+ waterfront lots at Waterways Coodanup = ~1,200 dwellings total, matching Eglinton Village's 1,260-lot scale). |
| Est. Electrical Load |
5.40 MW (6.00 MVA) diversified residential + community centre demand (at 5.0 kVA/dwelling diversified; or up to 11.25 MVA under Slide 3's 9.375 kVA/home peak metric) consuming ~9.60 GWh/yr. CALIBRATED RESI LOAD |
| Stage & Intercept Window |
Phase 1–2 on Pinjarra (SPV & GST Activated 19 Aug 2026 · T-48 to T-36 Months) + Phase 4 on Coodanup (EPBC 2026/10595 · T-24 Months). Catching the Pinjarra acquisition within 60 days of GST activation before structure plan servicing is locked in. |
| 10 Minutes from Zenith's EDL7 |
Sits in the exact same Shire of Murray / Peel corridor as Zenith's Peel Business Park microgrid (EDL7/ERL28 at Nambeelup, 10 mins away) — allowing Zenith's existing Peel operations team to service the estate with zero regional mobilisation overhead. |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- Pinjarra (83.2% Load Index) & Mandurah (<5 MVA) Substation Squeeze: The Peel residential growth corridor is fed by MANDURAH ZS (<5 MVA HEADROOM THROUGH 2035) and PINJARRA ZS (83.2% LOAD INDEX), where long rural 22 kV feeders into Ravenswood, Pinjarra, South Yunderup, and Coodanup suffer severe voltage drop and thermal constraints.
- All-Electric Estate Load Growth: New Peel subdivisions without reticulated gas face ~5.0–9.375 kVA/home peak evening demand from ducted reverse-cycle air conditioning, induction cooking, heat pumps, and EV chargers.
- WAPC Subdivision Clearance Bottleneck: Multi-stage Peel estates (Stages 1–8) routinely face Western Power UDS feeder upgrade conditions between stages that can freeze lot title clearances for 18–36 months.
WHY A PRIVATE MICROGRID WINS HERE
- Direct WA Decision-Maker on the Ground in Perth: Wolfdene's WA General Manager (Mitch Brown) sits at Level 5, 28 The Esplanade, Perth and manages both the Wolfdene and BMP Peel projects — one meeting covers Coodanup AND the new Aug 2026 Pinjarra acquisition.
- Live Reference Site 10 Minutes Away (Peel EDL7): Rob Breden and Tom Friberg can literally walk Mitch Brown onto Peel Business Park (EDL7) 10 km up the road in Nambeelup to show Zenith's operational solar + BESS microgrid.
- Eglinton (EDL10) Community Battery VPP Template: A 2.50 MVA skinny boundary connection + 2.50 MW / 6.00 MWh community BESS + orchestrated 4.0 MWp rooftop solar VPP bridges the entire 1,200-lot corridor.
CLOSEST ZENITH PRECEDENT
Eglinton Village (EDL10/ERL33, 1,260 lots with Cedar Woods) + Peel Business Park (EDL7/ERL28, 10 km away in Shire of Murray): Combines Zenith's residential VPP playbook with its Peel operational footprint.
WHO TO APPROACH (VERIFIED CHANNELS)
- #1 WA Decision-Maker: General Manager (WA), NATIONAL DEVELOPER E (DIRECT MOBILE & PERTH OFFICE HELD BY HATTR).
- National Acquisitions & MD: Managing Director & Acquisitions Director, NATIONAL DEVELOPER E (MELBOURNE HQ CONTACTS HELD BY HATTR).
- Local Government Authority: Shire of Murray / City of Mandurah planning & economic development teams (already familiar with EDL7).
LICENCE & REGULATORY ROUTE
Direct annexation onto Peel Renewable Energy Pty Ltd (EDL7/ERL28) in the Shire of Murray or Eglinton Village Energy Pty Ltd (EDL10/ERL33) (per the 7 Jan 2026 ERAWA non-contiguous amendment precedent).
Key Risk
While the BMP + Wolfdene JV link is proven on Austin Lakes and Waterways Coodanup (`BMP Land Projects Pty Ltd` + `Wolfdene PW Pty Ltd`), the exact Pinjarra parent lot number inside `BMP Land Projects Pinjarra Pty Ltd` should be confirmed on the first call with Mitch Brown or via a $10 ASIC extract.
Next Step
Unlock hattr's unredacted contact pack to call WA GENERAL MANAGER E in Perth and invite him to inspect the live Nambeelup microgrid.
1 Federal ASIC & ABR Registers (Reg & GST Active 19 Aug 2026 & 15–16 Sep 2025; ACNs/ABNs REDACTED) · 2 EPBC Referral 2026/REDACTED · 3 Western Power NCMT Mandurah (<5 MVA) & Pinjarra (83.2%) data · 4 ERA EDL7/ERL28 & EDL10/ERL33 Decisions.
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 05 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT MURRAY WATERS — Peel Corridor Broadacre Residential Acquisition & JV — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
CORRIDOR SCALE
~1,200 Dwellings
Pinjarra + Coodanup JV
ULTIMATE PEAK LOAD
5.40 MW (6.00 MVA)
9.60 GWh/yr Resi+Comm
BOUNDARY METER CMD
2.50 MW (2.78 MVA)
3.22 MVA Peak Shaved
30-YR BOO REVENUE
$89.7M Contracted
$1.32M/yr Net EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — Diversified vs. Un-Diversified Residential Peak Demand (1,200 Homes)
1,200 dwellings × 5.00 kVA diversified ADMD = 6.00 MVA (5.40 MW @ 0.90 PF) | Slide 3 Peak Envelope: 11.25 MVA
Matches Zenith's Eglinton Village (EDL10, 1,260 lots) where a single community battery VPP bridges a ~6–11 MVA residential estate.
Step 2 — Annual Estate Energy Consumption (GWh/yr)
1,200 homes × 7,000 kWh/yr (all-electric Peel climate + EV) + 1.20 GWh/yr foreshore/POS pumping & retail = 9.60 GWh/yr
4.80 × the 2.0 GWh Slide 4 reference energy block, billed at residential A1-equivalent embedded tariff + community loads.
Step 3 — Skinny Connection & Community Battery Peak-Shaving Physics
6.00 MVA Estate Peak − 2.50 MVA Western Power Boundary Connection = 3.50 MVA Shaved by 2.50 MW / 6.00 MWh BESS + Solar VPP
Cuts Western Power feeder demand by >58%, allowing Stages 1–6 to clear WAPC subdivision power conditions without Mandurah/Pinjarra feeder upgrades.
Step 4 — Zero Regional Mobilisation Overhead (Synergy with Peel EDL7)
Located 10 km from Zenith's live 1.2 MWp PV + 2.5 MWh BESS microgrid at Peel Business Park (Nambeelup)
Shares O&M field technicians, spares, and Shire of Murray stakeholder relationships with EDL7.
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Western Power Boundary Connection (CMD) |
2.50 MW (2.78 MVA) |
Single 22 kV master connection (avoids Mandurah <5 MVA / Pinjarra feeder upgrade) |
| Orchestrated Rooftop + Community Solar PV |
4.20 MWp DC / 3.40 MW AC |
~3.5 kWp orchestrated VPP share per home + community hub roof (~6.93 GWh/yr) |
| Central Community LFP Battery (BESS) |
2.50 MW / 6.00 MWh |
Exact Eglinton Village (EDL10) 6.0 MWh community battery specification |
| On-Site Solar + VPP Self-Sufficiency |
~54.0% Behind-the-Meter |
5.18 GWh/yr supplied via local Solar+BESS VPP; 4.42 GWh/yr imported off-peak |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 9.60 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (4.8x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$961,075 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$770,909 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$429,475 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$285,629 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$112,358 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$3,100,800 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (9.60 GWh/yr) | $3,100,800/yr |
| Less: Customer Tariff Discount (20.0% (Resi A1 + Comm)) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $2,480,640/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
2.36 MW net hot-season peak shaved during WEM IRCR intervals × ~$216,000/MW/yr capacity credit value | +$510,000/yr |
| Total Addressable Microgrid Revenue | $2,990,640/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 4.42 GWh off-peak grid import, single 2.5 MW CMD network charge, VPP solar credits, and shared Peel O&M | −$1,670,640/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $1,320,000 / yr |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Community BESS (6.0 MWh @ $0.58M/MWh = $3.48M) + Community Hub Solar PV (1.0 MWp = $1.10M) + HV/LV Microgrid Switching & VPP Controls ($1.82M) = $6.40M Total Zenith CapEx
Project Returns & Contracted Annuity
4.8 Years Simple Payback · ~18.2% Unlevered Pre-Tax IRR · $89.7M 30-Year Contracted Revenue
Why the Developer Signs (CapEx & Time Saved)
Saves Wolfdene & BMP $4M–$7M in Peel 22 kV feeder headworks, de-risks multi-stage WAPC clearances across Coodanup and Pinjarra, and creates a flagship 'Net-Zero Peel Community' sales hook.
1 Federal ASIC & ABR Registers (Reg & GST Active 19 Aug 2026 & 15–16 Sep 2025; ACNs/ABNs REDACTED) · 2 EPBC Referral 2026/REDACTED · 3 Western Power NCMT Mandurah (<5 MVA) & Pinjarra (83.2%) data · 4 ERA EDL7/ERL28 & EDL10/ERL33 Decisions.
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 1: STRATEGIC BRIEF)
EXACT SPV ACNs, PARCEL ADDRESSES & DIRECT MOBILES HELD BY HATTR
DEAL 06 OF 06 · ARCHETYPE B · SINGLE-METER LAND-LEASE MICROGRID PORTFOLIO
PAGE 1 OF 2 · ORIGINATION & STRATEGY
PROJECT EVERGREEN — 3-Village (857-Home) Single-Meter Microgrid Portfolio
3 Constrained WA Corridors · 3 Stealth/Active SPVs (857 homes + 3 Clubhouses) · 4.40 MW combined (~7.80 GWh/yr) · Single-Owner BOO Template
| Owner / SPV Proof |
WA LAND-LEASE OPERATOR F (10-village WA portfolio) via three dedicated resort SPVs: (1) BULLSBROOK VILLAGE SPV (ACN 698 XXX XXX, reg 09 Jun 2026 & ACN 691 XXX XXX, GST Active 01 Jul 2026), (2) CHAMPION LAKES SPV (ACN 690 XXX XXX, reg 26 Aug 2025), and (3) NORTH COASTAL RESORT SPV (ACN 676 XXX XXX — $300M, 360 homes). ASIC + ABR VERIFIED |
| Why Portfolio Packaging Works |
A single 237-home village (~1.20 MW) sits just below Zenith's 1.5–4.0 MW standalone floor. Packaging Bullsbrook (237 homes) + Champion Lakes (~260 homes) + Two Rocks (360 homes) = 857 homes + 3 Resort Clubhouses creates a 4.40 MW / 7.80 GWh/yr mandate under one master contract — AND Bullsbrook bolts directly onto Deal #1 (Troon's 201 Stock Rd). |
| Already Built for Microgrids |
Under WA's Land Lease Act model, Providence retains 100% ownership of the land, internal LV cables, rooftops, and single Western Power boundary meter forever (unlike greenfield subdivisions where lots are sold off). At Piara Waters, Providence already bundles the first 8 kWh/day of solar+battery power into weekly rent. |
| Documented Billing Pain Point |
Public case study by WA ICT & UTILITY BILLING INTEGRATOR revealed that OPERATOR F suffered major headaches managing multi-vendor village utility billing and embedded networks in-house — creating an immediate opening for a turnkey BOO microgrid operator. |
| Stage & Intercept Window |
Phase 2–4 (Bullsbrook SPV reg Jun/Jul 2026 · Champion Lakes reg Aug 2025 · Two Rocks DAP Approved · T-36 to T-12 Months). |
THE GRID PROBLEM (WHY CONVENTIONAL WESTERN POWER SUPPLY FAILS HERE)
- Three Constrained Outer-Metro Substations: (1) Bullsbrook (Chittering Rd) sits on the constrained Henley Brook (HBK, <5 MVA) / Muchea 22 kV radial corridor; (2) Champion Lakes sits in the Southern River (SNR, <5 MVA) / Byford (37 MW NSSS deficit) zone; (3) Two Rocks sits on the northern radial end of Yanchep (YCP) (8 km north of Zenith's Eglinton EDL10!).
- High Daytime/Evening Resort Clubhouse + Heat-Pump Loads: Heated resort swimming pools, wellness centres, bowls clubhouses, and 857 all-electric over-50s homes create a highly predictable solar-soak and evening peak profile.
- Zero WAPC Multi-Lot Handover Friction: Because each village is a single parent lot with a single Western Power boundary meter, no ERAWA EDL distribution licence is even strictly required (it operates as a clean single-title embedded microgrid, or can be annexed to EDL10).
WHY A PRIVATE MICROGRID WINS HERE
- Frees Up $6.1M+ of Developer CapEx Per 3 Villages: Previously, Providence funded its own village solar + battery hardware on balance sheet; a Zenith BOO structure frees up ~$2M/village of equity for new land acquisitions.
- 100% Captive Customer Base from Day 1: Every resident signs the village embedded network agreement as part of their site lease — 0% churn for 25–30 years.
- Repeatable Across All 10 WA Resorts (~$180M+ Total Pipeline): Once standardised on Bullsbrook, Champion Lakes, and Two Rocks, the template rolls out to Dawesville, Mandurah, Haynes, Wattle Grove, and Henley Brook.
CLOSEST ZENITH PRECEDENT
Eglinton Village (EDL10/ERL33, 8 km south of Two Rocks) + East Village Knutsford Shared-Battery Microgrid: Simpler regulatory structure than Eglinton because Providence owns 100% of the land behind a single master meter per village.
WHO TO APPROACH (VERIFIED CHANNELS)
- Head of Development (#1 Site Target): DEVELOPMENT HEAD F (HQ PHONE & DIRECT EMAIL HELD BY HATTR).
- General Manager & Head of Construction: GM & CONSTRUCTION HEAD F (DIRECT CONTACTS HELD BY HATTR).
- Town Planner (Lodges all DAPs): SUBIACO PLANNING FIRM F (DIRECT PHONE HELD BY HATTR).
LICENCE & REGULATORY ROUTE
Single-parent-lot Behind-the-Meter Embedded Network (exempt/ERL) OR annexation onto EDL10/ERL33 (Bullsbrook sits next to Muchea EDL10; Two Rocks sits 8 km north of Eglinton EDL10).
Key Risk
Each individual village is ~1.2–1.8 MW on its own, so the deal must be pitched either as a 3-village bundled BOO facility (4.40 MW) or with Bullsbrook bolted onto Zenith's Muchea/Bullsbrook EDL10 hub.
Next Step
Unlock hattr's unredacted contact pack to call DEVELOPMENT HEAD F and CFO / GM F on the 3-village BOO capital-release model.
1 Federal ASIC & ABR Registers (Reg 09 Jun 2026, GST Active 01 Jul 2026, Reg 26 Aug 2025; ACNs REDACTED) · 2 Metro Outer DAP Approval (Two Rocks $300M Resort) · 3 R-Group Utility Billing Case Study (URL REDACTED) · 4 Slide 4 Unbundled Tariff Model.
🔒 CONFIDENTIAL BLIND ORIGINATION DOSSIER · SHAREABLE BAIT EDITION (PAGE 2: ENGINEERING & BOO FINANCIAL MATH)
CALIBRATED TO WESTERN POWER TSP 2026 & WEM IRCR BENCHMARKS
DEAL 06 OF 06 · ENGINEERING SIZING, LOAD PHYSICS & 25/30-YR BOO MODEL
PAGE 2 OF 2 · THE MATHS WORK
PROJECT EVERGREEN — 3-Village (857-Home) Single-Meter Microgrid Portfolio — Quantitative Feasibility
Calibrated to Zenith Slide 3/4 Benchmarks ($536,448.38 / 2.0 GWh = 26.82 c/kWh), Western Power 2026/27 Tariffs & WEM IRCR Credits
3-VILLAGE PORTFOLIO
857 Homes + 3 Clubs
Bullsbrook + Champ. + 2 Rocks
COMBINED PEAK LOAD
4.40 MW (4.89 MVA)
7.80 GWh/yr Total
MASTER METER CMD
3 × 0.80 MW (2.40 MW)
2.00 MW Peak Shaved
25-YR BOO REVENUE
$60.6M (3 Villages)
$1.08M/yr Net EBITDA
1. BOTTOM-UP ELECTRICAL LOAD & FEEDER DEFICIT DERIVATION
Step 1 — Bottom-Up Load across 3 Land-Lease Resorts (857 Homes + 3 Clubhouses)
Bullsbrook (237 homes = 1.20 MW) + Champion Lakes (260 homes = 1.35 MW) + Two Rocks (360 homes = 1.85 MW) = 4.40 MW
Includes 3 heated resort pools, wellness centres, bowls greens, streetlighting, and 857 all-electric over-50s homes (~4.5 kVA diversified/home).
Step 2 — Annual Portfolio Energy Consumption (GWh/yr)
857 homes × 7,500 kWh/yr (high daytime retiree occupancy + HVAC) + 3 Clubhouses (1.37 GWh/yr) = 7.80 GWh/yr
3.90 × the 2.0 GWh Slide 4 reference unit — with exceptionally high daytime self-consumption (~62%) because retirees are home during solar hours!
Step 3 — Skinny Boundary Connections (3 × 800 kW CMD = 2.40 MW Combined)
4.40 MW Portfolio Peak − 2.40 MW Combined Boundary CMD = 2.00 MW Shaved by 2.50 MW / 6.50 MWh BESS + 3.80 MWp Solar
Each village connects via a standard <1 MVA padmount transformer, completely avoiding Western Power HV feeder augmentation in Bullsbrook & Champion Lakes.
Step 4 — Portfolio Rollout Multiplier (Scaling from 3 Villages to All 10 WA Resorts)
3-Village Starter Mandate: $1.08M/yr EBITDA ($6.1M CapEx) → Full 10-Village WA Portfolio: ~$3.60M/yr EBITDA ($180M+ 25-Yr Revenue)
Creates a standardised, cookie-cutter BOO microgrid product where every new Providence village acquisition automatically plugs into Zenith.
2. OPTIMAL MICROGRID PLANT SIZING & DISPATCH SPECIFICATION
| Microgrid Subsystem |
Engineered Rating |
Dispatch Physics & Commercial Role |
| Western Power Boundary Connections |
3 × 0.80 MW (2.40 MW Total) |
One single master HV/LV boundary meter per village (zero individual Western Power NMIs) |
| Embedded Rooftop + Clubhouse Solar PV |
3.80 MWp DC / 3.00 MW AC |
~4.0 kWp on every home roof + clubhouse roofs (~6.27 GWh/yr total generation) |
| Central Village LFP Batteries (BESS) |
2.50 MW / 6.50 MWh Combined |
Bullsbrook (1.8 MWh) + Champion Lakes (2.0 MWh) + Two Rocks (2.7 MWh) |
| On-Site Solar + BESS Self-Sufficiency |
~62.5% Behind-the-Meter |
4.88 GWh/yr consumed locally (high daytime retiree load + BESS); 2.92 GWh/yr off-peak import |
3. UNBUNDLED TARIFF & REVENUE STACK (SLIDE 4 BENCHMARK SCALED TO 7.80 GWh/yr)
| Bill Component (Slide 4) |
Share |
Unit Rate |
2.0 GWh Ref |
Full Estate (3.9x) |
How the Microgrid Captures / Displaces It |
| Variable Wholesale Energy |
37.55% |
10.01 c/kWh |
$200,224 |
$780,874 |
Replaced by on-site Solar PV (~45–62%) + cheap off-peak grid import |
| Western Power Network (UOS/CMD) |
30.12% |
8.03 c/kWh |
$160,606 |
$626,363 |
Slashed via single skinny HV boundary meter (<=3.5 MW CMD) + internal LV ring |
| Peak Capacity / WEM IRCR |
16.78% |
4.47 c/kWh |
$89,474 |
$348,949 |
Shaved during the 12 Hot-Season peak intervals + earns ~$216k/MW/yr IRCR credits |
| Market Fees & Retail Margin |
11.16% |
2.98 c/kWh |
$59,506 |
$232,073 |
Captured directly by Embedded Network / Microgrid Operator |
| Environmental Certificates (LGC/STC) |
4.39% |
1.17 c/kWh |
$23,408 |
$91,291 |
Generated on-site by behind-the-meter Solar PV array |
| TOTAL BUNDLED GRID BENCHMARK |
100.0% |
26.82 c/kWh |
$536,448 |
$2,519,400 / yr |
62.45% is Non-Energy (46.90% WP Network + IRCR alone) |
4. 25/30-YEAR BUILD-OWN-OPERATE (BOO) P&L, CAPEX & DEVELOPER SAVINGS
ANNUAL MICROGRID P&L RUN-RATE (FULL BUILD)
| Gross Bundled Grid Equivalent (7.80 GWh/yr) | $2,519,400/yr |
| Less: Customer Tariff Discount (20.0% (Bundled Village Rate)) | −20% to −22% |
| Net Behind-the-Meter Retail + Network Revenue (~90–95%) | $2,015,520/yr |
Plus: WEM IRCR Peak Capacity & NSSS Credits (~5–10%)
1.90 MW net hot-season peak shaved across the 3 village batteries × ~$216,000/MW/yr WEM IRCR credit | +$410,000/yr |
| Total Addressable Microgrid Revenue | $2,425,520/yr |
Less: Off-Peak Grid Import, Skinny CMD Tariff & O&M
Includes 2.92 GWh off-peak grid import, 3 × 0.8 MW CMD network charges, automated GPON billing, and O&M | −$1,345,520/yr |
| NET MICROGRID EBITDA (ANNUAL RUN-RATE) | $1,080,000 / yr (3-Village Starter) · $3.60M/yr (10-Village Rollout) |
CAPEX, RETURNS & DEVELOPER DEAL HOOK
Estimated Turnkey BOO CapEx Breakdown
Rooftop + Clubhouse Solar PV (3.8 MWp @ $1.00M/MWp = $3.80M) + 3 Village BESS Units (6.5 MWh @ $0.58M/MWh = $3.77M) − Developer LV/Solar Contribution ($1.47M) = $6.10M Net Zenith BOO CapEx
Project Returns & Contracted Annuity
5.6 Years Simple Payback · ~16.5% Unlevered Pre-Tax IRR · $60.6M 25-Year Contracted Revenue (3 Villages)
Why the Developer Signs (CapEx & Time Saved)
Releases ~$6.1M of solar + battery CapEx off Providence's balance sheet across the 3 new resorts, eliminates Western Power headworks delays in Bullsbrook & Champion Lakes, and solves village utility billing.
1 Federal ASIC & ABR Registers (Reg 09 Jun 2026, GST Active 01 Jul 2026, Reg 26 Aug 2025; ACNs REDACTED) · 2 Metro Outer DAP Approval (Two Rocks $300M Resort) · 3 R-Group Utility Billing Case Study (URL REDACTED) · 4 Slide 4 Unbundled Tariff Model.