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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