- Strong and stable cash flows from 50 MW Kidston Solar Project
o Cashflow positive
o 20-year Revenue Support Deed with Queensland Government
- Pipeline projects (50 MW Jemalong Solar Project) to create near term revenue potential
- Upside from strategic 250 MW Kidston Pumped Storage Hydro Project + Stage 2 Kidston Solar Project
o Commonwealth & State Government focus on energy storage and renewable energy
o Most advanced energy storage and renewable project in Australia
o Long-term energy storage and project equity investment term sheet with EnergyAustralia
- Positive Outlook
o Government focus on energy storage to mitigate rising electricity prices and support intermittent renewables
To view the full presentation, please visit:
About Genex Power Ltd:
Genex Power Limited (ASX:GNX.AX - News) is a power generation development company listed on the ASX. The Company is focused on innovative clean energy generation and electricity storage solutions which deliver attractive commercial returns for shareholders. The Company has a development pipeline of up to 770MW of renewable energy generation and storage projects within its portfolio, underpinned by the Kidston Renewable Energy Hub in far-north Queensland (Kidston Hub). The Kidston Hub is comprised of the operating 50MW Stage 1 Solar Project (KS1), the 250MW Pumped Storage Hydro Project (K2-Hydro) and the multi-staged integrated Solar Project of up to 270MW (K2-Solar) under development and the Kidston Stage 3 Wind Project of up to 150MW under feasibility. In addition, the Company has acquired the 50MW Jemalong Solar Project (JSP), located near Forbes in NSW, which is also under development.
Genex continues to acknowledge the support from the Federal Government, through the Australian Renewable Energy Agency (ARENA), which provided $8.9 million in funding to support the construction of the KS1 Project, in addition to their support of up to $9 million in funding to support the development of the stage 2 projects. Genex also acknowledges the support of the Queensland State Government through providing a 20-year revenue support deed and designating the Hub as 'Critical Infrastructure' to the State.
Simon Kidston Executive Director Tel: +61-2-9048-8852 Mob: +61-414-785-009 Email: email@example.com James Harding Chief Executive Officer Tel: +61-2-9048-8855 Mob: +61-439-139-179 Email: firstname.lastname@example.org
Genex Power Ltd
Copyright (C) 2019 ABN Newswire. All rights reserved.