Genex Power Ltd Stock Market Press Releases and Company Profile
Kidston Solar Phase One 50MW Update
Kidston Solar Phase One 50MW Update

Sydney, Aug 3, 2017 AEST (ABN Newswire) - Genex Power Limited (googlechartASX:GNX) (Genex or Company) is pleased to provide shareholders with this latest update regarding the construction program for the Company's Phase One 50MW Kidston Solar Project (KSP1 or Project).

Genex is pleased to report that the construction of KSP1 continues to remain on-time and on-budget for anticipated first generation in Q4 2017 and Practical Completion in Q1 2018. Key activities since the last update (refer ASX announcement 19 June 2017) include:

- Continued installation of solar modules across the KSP1 site;

- Continued installation of pilings;

- Continued installation of trackers;

- Continued installation of the substation earth-grid; and

- Installation of the security fence perimeter around the KSP1 site.

Commenting on the continued successful progress of the Company's 50MW Solar Project, Managing Director of Genex Power, Michael Addison said:

"Construction has progressed as scheduled, remaining within the allocated budget. The Project was recently declared by the Queensland Government as a Critical Infrastructure Project in conjunction with the Phase Two Projects (270MW Solar and 250MW Pumped Hydro), 275kV transmission line easement and the Copperfield Dam easement."

"Genex has now turned its attention to the development of Phase Two of the Kidston Renewable Energy Hub, with detailed discussions progressing with potential energy partners, debt financing entities and equity infrastructure firms. Genex has received first-round board approval from the Northern Australia Infrastructure Facility (NAIF) for potential debt funding for the Phase Two Projects. NAIF will now commence full due-diligence."

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About Genex Power Ltd

Genex Power Ltd ASX:GNXGenex Power Limited (ASX:GNX) is focused on developing a portfolio of renewable energy generation and storage projects across Australia. The Company's flagship Kidston Clean Energy Hub, located in north Queensland, will integrate large-scale solar generation with pumped storage hydro. The Kidston Clean Energy Hub is comprised of the operating 50MW stage 1 Solar Project (KS1) and the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) with potential for further multi-stage wind and solar projects. The 50MW Jemalong Solar Project (JSP) is located in NSW and provides geographical diversification to the Genex Power Limited portfolio. JSP was energised in early December 2020 and commissioning is now underway. Genex is further developing its energy storage portfolio via the early stage development of a 50MW/75MWh standalone battery energy storage system at Bouldercombe in Queensland. With over 400MW of renewable energy and storage projects in development, Genex is well placed as Australia's leading renewable energy and storage company.

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Contact

Simon Kidston
Executive Director
Tel: +61 2 9048 8850
Email: sk@genexpower.com.au



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