Pilot Energy (ASX:PGY) has entered into a binding heads of agreement with SN Energy Australia to jointly develop a hybrid solar and battery energy storage project at its Three Springs site, alongside a proposed 50MW data centre.
Under the agreement, SNE will contribute $10.8 million—covering land acquisition and development costs—towards the project.
The partnership converts the site from a previously approved stand-alone solar development into a combined hybrid energy and data centre facility.
The HoA is binding, subject to customary conditions, with a definitive joint development agreement expected by early to mid-February.
Pilot Managing Director Brad Lingo described the arrangement as a "significant capital realisation" while creating a "much-enhanced Hybrid Project" that meets market demand for firmed renewable power solutions.
In addition, the company has secured a $500,000 short-term unsecured loan from existing shareholders to support initial development and the proposed data centre component.