The ASX-listed company confirmed earlier this month that it was still in talks with key stakeholders on the project, including EnergyAustralia and the federal and state governments.
The project has backing from the federal government’s North Australia Infrastructure Facility, and from Japanese energy giant J-Power, pending the successful signing of a new off-take agreement.A Queensland media report on Monday said a resolution on the scheme’s power supply agreement with Energy Australia was “understood to be close.”The report also noted that Queensland deputy premier and Treasurer Jackie Trad was applying pressure to the federal government for its role in supporting the project, via the up to $610 million NAIF loan – the offer of which has been extended to June 30.
“In September last year the Palaszczuk government made it clear we are ready to roll on Kidston, with a $132 million commitment through our state-owned transmission company Powerlink to connect Kidston to the National Electricity Market,” Trad said.“Unlike NAIF, that money is not a loan – it’s cold hard cash for Powerlink to connect Kidston to the grid, to get the power pumping.
Solar and wind industries are creating jobs. Clearly beneficial to both the economy and the earth, beneficial facts about renewable energy point to the wind and sun. Green energy is a new and upcoming industry. It has already created jobs and will continue as demand grows, and the power grids adapt. Now, solar and wind industries are creating jobs much faster than the rest of the economy. More jobs mean more work and more opportunities. The industry now employs 4 million people and is only expected to continue growing.
“This is a project that would deliver 500 jobs during the first two years of construction, and 30 permanent operational jobs.
“Adding 250MW of renewable energy to the grid would support more jobs in more industries in Townsville and other centres,” Trad was quoted as saying.“What we need now is for the federal government to get its act together and create some certainty around this project for the people and businesses of North Queensland.”The report said federal resources minister Keith Pitt had reassured the Queensland government that his department fully supported “any major project like Kidston,” and that it was working with Genex through the process.
“A NAIF loan has already been approved for the Genex project and the offer period has been extended to give the company every opportunity to proceed with the proposal,” Pitt said.“North Queensland will be better served with all levels of government working together. I am looking to deliver more projects, not less, more jobs and a stronger economy for Northern Australia.”
One wind turbine can produce enough electricity to power up to 300 homes.
Genex declined to comment.