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Kidston

Sep 22, 2020
Genex secures site for Rocky battery storage project

Genex secures site for Rocky battery storage project

Genex Power has secured land adjacent to Powerlink’s Bouldercombe substation near Rockhampton for its large-scale battery storage project. The energy company said it intended to fast-track the development and would seek to have the project operational in the first half of 2022. Genex has also selected its preferred battery supplier following a competitive tender process, but did not n...

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Aug 10, 2020
Genex Power raises cash to fast-track CQ battery project

Genex Power raises cash to fast-track CQ battery project

Genex Power is on a fundraising drive to help fast-track the planned Como battery project in Rockhampton and cover financial close costs for the Kidston hydro project. The company has raised just over $21 million through a successful share placement and announced a share purchase plan today to raise a further $7 million. It comes after Genex Power last week revealed plans for a 50MW/75MWh C...

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Aug 04, 2020
Genex to bring big battery project to Rockhampton

Genex to bring big battery project to Rockhampton

Genex Power has revealed plans for a big battery project in Central Queensland, with construction planned to begin next year. The 50MW/75MWh Como battery storage project will be built near Rockhamption and is expected to cost around $50 million to bring online. Genex Power is also continuing to advance its Kidston pumped hydro project south-west of Cairns, with an expected cost of $700 mill...

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Jul 01, 2020
Genex powers ahead with Kidston hydro plans

Genex powers ahead with Kidston hydro plans

Genex Power has pinned down construction pricing and secured a further extension for its NAIF loan offer as it steams towards financial close for the Kidston Pumped Storage Hydro Project. Genex chief executive officer James Harding said the company was focused on starting construction in the coming months – creating an estimated 500 jobs in North Queensland over the next four years. ...

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Apr 03, 2020
Strong construction scene in Townsville as COVID-19 hits

Strong construction scene in Townsville as COVID-19 hits

Townsville’s construction scene has strong momentum as it hits the coronavirus challenge, according to local economist Colin Dwyer. Mr Dwyer, from DS Economics, said activity was considerably stronger now than a year ago and he counts about $2.9 billion worth of work on the list he compiles of significant local projects either underway or likely to begin within two years. “I drove past ...

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Mar 30, 2020
Offtake deal breakthrough for FNQ power project

Offtake deal breakthrough for FNQ power project

Genex Power has secured the energy offtake deal needed to push ahead with the Kidston hydro project in Far North Queensland. EnergyAustralia has agreed to an Energy Storage Services Agreement for up to 30 years for full dispatch rights from the planned 250MW plant. Genex expects to begin construction in the third quarter of this year, creating about 500 jobs over a build time of more than...

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Nov 22, 2019
J-Power backs Kidston pumped storage project

J-Power backs Kidston pumped storage project

J-Power has recommitted to the Kidston pumped storage hydro project, signing a new memorandum of understanding with project proponent Genex Power. “We are delighted that J-Power has shown faith in Genex and our K2-Hydro project with the execution of this MOU and to continue discussions along the lines of those originally announced in June this year,” Genex chief executive officer James Ha...

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Nov 13, 2019
Genex wins breathing space on $610m NAIF loan offer

Genex wins breathing space on $610m NAIF loan offer

The Northern Australia Infrastructure Facility (NAIF) Board has extended its $610 million loan offer for the Kidston Stage 2 pumped storage hydro project. Concerns were raised over the status of the loan offer last week after electricity retailer EnergyAustralia dashed proponent Genex Power’s hopes of reaching financial close on the project this quarter when it failed to commit to a long-ter...

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Nov 07, 2019
Funding setback for NQ pumped storage hydro project

Funding setback for NQ pumped storage hydro project

A setback for Genex Power has sparked fears over the future of the NAIF loan approved for the $700 million Kidston pumped storage hydro project. Labor Senator for Queensland Murray Watt said the renewable energy project’s $610 million Northern Australia Infrastructure Facility loan – the largest ticked off under NAIF so far – was now under a cloud. It came after electric...

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