Genex Power Limited (
"The Turnbull Government has reaffirmed its strong commitment to energy security by providing $54 million from the Clean Energy Finance Corporation (CEFC) to support a large-scale solar development with the potential for pumped hydro storage.
Developing storage technology for renewables is important for stabilising the grid as electricity can still be used when the sun is not shining or the wind is not blowing.
The solar development will take place at Genex Power's Kidston Renewable Energy Hub, 270km north-west of Townsville.
The Australian Renewable Energy Agency has provided $4 million for a study into the next phase, a 250 MW pumped hydro-storage project.
Co-locating a large-scale solar farm with a large-scale pumped hydro storage project will be an Australian first…"
To view the full Joint Media Release, please visit:
http://abnnewswire.net/lnk/47Q58A5W
About Genex Power Ltd
Genex Power Limited 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.
Contact
Simon KidstonExecutive Director
Tel: +61 2 9048 8850
Email: sk@genexpower.com.au
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