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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 ,  

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