June 2019 Capital Raising Presentation
Sydney, June 25, 2019 AEST (ABN Newswire) - Genex Power Ltd (
ASX:GNX) provides the Company's latest presentation.
Summary
- 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:
http://abnnewswire.net/lnk/L2J5RCNX
About Genex Power Ltd
Genex 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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