Australia’s first pumped hydro project in 40 years gets green light

Australia’s first pumped hydro project in 40 years gets green light

The first pumped hydro project in Australia’s main grid in nearly 40 years – and the first outside public ownership – looks almost certain to go ahead after the listed Genex landed a revised off-take agreement with utility EnergyAustralia for its 2,000MWh Kidston storage project.

Genex said to be “days away” from off-take deal for Kidston pumped hydro

Genex said to be “days away” from off-take deal for Kidston pumped hydro

Genex Power looks to be closing in on a power purchase agreement for its Kidston Pumped Storage Hydro Project (K2-Hydro), with News Ltd papers reporting that a deal was imminent, “within days.”.

J-Power recommits to Kidston pumped hydro plan, pending new off-take deal

J-Power recommits to Kidston pumped hydro plan, pending new off-take deal

The first stage of the project, a 50MW solar farm, was completed in late 2018 .This delay has forced Genex to renegotiate contracts with other project partners, including J-Power, as a prior deadline to achieve a financial investment decision before the end of 2019, has been pushed into 2020.

Japan utility takes stake in Genex, to fast-track Kidston pumped hydro project

Japan utility takes stake in Genex, to fast-track Kidston pumped hydro project

Genex said this week it had signed a “milestone” share subscription agreement with the Tokyo-listed J-Power, that would secure the equity funding required for the pumped hydro component of the world-first solar and pumped hydro storage project.

‘Land No One Else Wants’ Gets Solar as Coal-and-Nukes Era Fades

‘Land No One Else Wants’ Gets Solar as Coal-and-Nukes Era Fades

That’s second only to 2015 when 15 gigawatts of coal-fired plants were shuttered.“It’s land no one else wants.” said Jenny Chase, a Zurich-based analyst at BloombergNEF.In Queensland, Genex Power Ltd. is already producing enough energy for almost 26,500 homes from a 50-megawatt solar farm at the disused Kidston gold mine, where metal was discovered in the early 1900s and operations finally shuttered in 2001.

Genex receives final environmental approval for Kidston pumped storage hydro project

Genex receives final environmental approval for Kidston pumped storage hydro project

Genex wishes to thank the Office of the Coordinator General for assisting with the approvals process and for the strong support shown to date for the development of the Project”.

Genex finalises NSW solar purchase, as progress continues on Kidston hydro

Genex finalises NSW solar purchase, as progress continues on Kidston hydro

Genex Power has completed the acquisition of the 50MW Jemalong solar PV project in NSW, in a bid to diversify its generation portfolio and boost earnings while it continues to develop its flagship Kidston solar and pumped hydro storage project in Queensland.

Genex kicks off works on Kidston pumped hydro, next to solar farm

Genex kicks off works on Kidston pumped hydro, next to solar farm

Work is set to begin on the pumped hydro storage component of Genex Power’s ground-breaking Renewable Energy Hub at Kidston, in North Queensland, as the company works to keep the massive project moving while it awaits financial close.

Genex brings in EnergyAustralia for solar-pumped hydro storage project

Genex brings in EnergyAustralia for solar-pumped hydro storage project

Genex Power says it has signed a deal EnergyAustralia that delivers exclusive rights to the big utility to negotiate an off take agreement for its unique solar plus pumped hydro storage project, including an option to buy a half share in the storage component.

Kidston Solar Project reaches Practical Completion

Kidston Solar Project reaches Practical Completion

Genex Power Limited (ASX: GNX) (Genex or Company) is pleased to announce that its 50MW Kidston Solar Project (KS1 or Project) has successfully reached Practical Completion (PC).

Why battery storage in Australia is unable to back up wind and solar

Why battery storage in Australia is unable to back up wind and solar

Tesla and Genex, the proponent of a world-first co-located solar and pumped hydro storage facility in Queensland, are pushing for new categories to be implemented that recognise the hybrid nature of such investments, their benefits to the grid, and help them avoid being billed twice (charging and discharging) by the network operator.

Kidston renewable energy hub one step closer

Kidston renewable energy hub one step closer

Genex Power’s Kidston Renewable Energy Hub in Far North Queensland has been fast tracked with the $330 million Kidston Pumped Hydro Storage project (K2H) today declared a coordinated project.

Genex secures development approval for Kidston pumped hydro

Genex secures development approval for Kidston pumped hydro

Genex said the development approval represented a significant milestone for the pumped hydro project, which will be built using existing pits at the old Kidston gold mine in north Queensland, and will ultimately provide around eight hours of storage.

Genex buys 50MW Jemalong solar project as it finalises Kidston storage deal

Genex buys 50MW Jemalong solar project as it finalises Kidston storage deal

Genex Power has bought the 50MW Jemalong solar project in NSW as it looks to its next stage of developments once it has the financing for its flagship solar and pumped hydro storage project in Queensland in place.