Strike Energy Limited (AU:STX) has released an update.
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Strike Energy Limited has greenlighted the South Erregulla peaking gas power station, transitioning it to the execution phase with a development budget of $137 million. The project is projected to enhance the electricity grid’s reliability in Western Australia by providing 85 MW of firming power, leveraging increased plant utilization and favorable pricing to generate substantial revenues. The power station, expected to begin operations by October 2026, promises a robust financial return with an estimated annual revenue of $50-55 million over the first five years.
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