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
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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, firstname.lastname@example.org, http://arena.gov.au; Clean Energy Finance Corp., www.cefcexpertreview.gov.au;
Genex Power Lid., www.genexpower.com.au
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