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Genex Touting Australian Pumped Hydro/Solar/Wind Project (Int'l)
Genex Power
Date: 2018-04-06
In the Land Down Under, Sydney-based Genex Power is exploring the option of building a new 150 MW wind farm alongside its Kidston pumped hydro and solar project in North Queensland, If constructed, the $1 billion Kidston renewable hub will be the first pumped hydro/solar/wind project in the world. The $300 million 250-MW pumped hydro project has been likened to a giant battery which will have a 1500 MWh storage capacity.

Genex will conduct a feasibility study on the new wind farm proposal -- which is expected to come in at $300 million -- while it is targeting financial close for the second solar project and pumped hydro by the end of the year. The $115 million 50 MW wind farm is presently operating under-pinned by a 20 year Queensland government PPA.

Genex has received almost $8.9 million from the federal government's Australian Renewable Energy Agency for the first 50 megawatt solar project at Kidston and a further $9 million towards the pumped hydro and second solar stage of the project. The company has also applied to funding from the $5 billion Northern Australia Infrastructure Facility. (Source: Genex Power, Financial Review, 5 April, 2018) Contact: Genex Power Lid., www.genexpower.com.au

More Low-Carbon Energy News Genex Power,  Soilar,  Energy Storage,  Pumped Hydro Energy STorage ,  


Aussie Solar, Hydro Energy Storage Project Underway (Int'l)
ARENA,Clean Energy Finance Corp., Genex Power
Date: 2017-02-15
In the Land Down Under, Sydney-based renewable energy and energy storage specialist Genex Power Ltd. reports it has secured a total of $100 million (AUS) ($76.8 million) in funding from the Clean Energy Finance Corp. (CEFC) and Societe Generale for the first phase of construction of a solar energy project in Kidston, Queensland. CEFC is providing $54 million of debt financing and the Australian Renewable Energy Agency (ARENA) is adding $8.85 million in grant funding.

Upon completion of the first phase in Q1 of 2018, the solar power plant is expected to generate 145.9 GWh per year of electricity, which is sufficient for about 26,500 homes.

The company has now finalized funding for all EPC and O&M requirements of the project, which will eventually be expanded to include a 250 MW pumped hydro storage installation. Genex has begun construction of the first phase of the project and is now seeking financing support for the second phase, according to a statement to the Australian Securities Exchange. (Source: Genex Power, Clean Energy Finance Corp., PV Mag, 14 Feb., 2017) Contact: ARENA, Ian Kay, Acting CEO, 011 +61 2 6243 7773, arena@arena.gov.au, http://arena.gov.au; Clean Energy Finance Corp., www.cefcexpertreview.gov.au; Genex Power Lid., www.genexpower.com.au

More Low-Carbon Energy News ARENA,  Clean Energy Finance Corp.,  Solar,  Genex Power,  

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