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hydro

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… ...

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Aug 01, 2020
Special project status for Burdekin Falls Dam upgrade

Special project status for Burdekin Falls Dam upgrade

The proposed raising of the Burdekin Falls Dam wall in North Queensland has been declared a coordinated project. Upgrading the dam would be a key step towards developing the Burdekin Hydro power project, expected to create 200 jobs during construction and generate enough electricity to power 30,000 homes. It is expected to cost between $358… ...

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Jul 27, 2020
Tully Millstream hydro on NQ First agenda

Tully Millstream hydro on NQ First agenda

Reviving plans for the Tully Millstream hydro scheme north-west of Tully is a key job-creating project on NQ First’s election platform. Party leader and Whitsunday MP Jason Costigan has promised $400 million to make the hydroelectric power project a reality if NQ First wins the balance of power at the State election on October 31…. ...

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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… ...

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Jun 10, 2020
Move helps pave way for Urannah Dam works

Move helps pave way for Urannah Dam works

The $2.9 billion Urannah Dam project has jumped an administrative hurdle, with agreement reached between the State and Federal Governments on construction milestones. Federal Member for Dawson George Christensen said minor amendments to the bilateral agreement on water to speed up processes and release funds had been signed off by Deputy Prime Minister and Minister… ...

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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… ...

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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… ...

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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… ...

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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… ...

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