Electricity produced from the Kidston Solar Stage 1 Project is now being transmitted into the National Electricity Market.
Genex Power announced today that, following successful transformer energisation of the project in late November, it had now generated its first revenue.
“The project has now transitioned from being technically operational to commercially active. This ground-breaking milestone marks the first earnings for the project and for Genex as a company,” managing director Michael Addison said.
“This transition from a development company to generating operational cash flows will serve to strengthen our financial position as we seek to reach financial close for our Kidston Stage Two Projects in 2018.”
The solar farm is located 270km north-west of Townsville at the former Kidston gold mine site.
As commissioning is completed over the coming months, electricity generation will be ramped up to full capacity.
The Kidston 50MW PV Solar Project is the first phase in the proposed $580 million Kidston Renewable Energy Hub, which will also include the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro), and the co-located 270MW solar PV Project (K2-Solar).