Genex Power Limited (ASX:GNX) (Genex or the Company) advises that it has received the consent of the Australian Securities and Investments Commission (ASIC) for a change in auditor from William Buck to Ernst & Young (EY).

The primary reasons for the Company seeking the consent of ASIC to the change were that the construction of Genex's Kidston Solar Project (Phase One 50MW) will be one of the key focus areas for the Genex group of companies (Genex Group) going forward. Along with the Group's future projects, Genex needs the experience and assistance of an auditor that has deep renewable energy and construction experience given the risks and complexities these areas have on the recognition and disclosure in the financial statements. EY's Australian and global network gives Genex a large network to draw on industry, financial and tax experience.

The details of the new auditor are:

Ernst & Young
200 George Street
Sydney NSW 2000
Tel: +61-2-9248-4283

Under s329(8) of the Corporations Act 2001, the effective date of the change is 25 July 2017.


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



Link: Change of Auditor


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