As with previous years, FY19 was another busy year in which Genex Power Ltd (ASX:GNX) made strong progress on advancing our diversified portfolio of renewable energy projects with strong progress throughout the year.
Genex Power Ltd
Genex Power Limited (ASX:GNX) is a power generation development company listed on the ASX. The Company is focused on innovative clean energy generation and electricity storage solutions which deliver attractive commercial returns for shareholders. The Company has a development pipeline of up to 770MW of renewable energy generation and storage projects within its portfolio, underpinned by the Kidston Renewable Energy Hub in far-north Queensland (Kidston Hub). The Kidston Hub is comprised of the operating 50MW Stage 1 Solar Project (KS1), the 250MW Pumped Storage Hydro Project (K2-Hydro) and the multi-staged integrated Solar Project of up to 270MW (K2-Solar) under development and the Kidston Stage 3 Wind Project of up to 150MW under feasibility. In addition, the Company has acquired the 50MW Jemalong Solar Project (JSP), located near Forbes in NSW, which is also under development.
Genex continues to acknowledge the support from the Federal Government, through the Australian Renewable Energy Agency (ARENA), which provided $8.9 million in funding to support the construction of the KS1 Project, in addition to their support of up to $9 million in funding to support the development of the stage 2 projects. Genex also acknowledges the support of the Queensland State Government through providing a 20-year revenue support deed and designating the Hub as 'Critical Infrastructure' to the State.
Genex Power Limited (ASX:GNX) is pleased to announce that it has signed a new Memorandum of Understanding with Electric Power Development Co Ltd trading as JPOWER.
Genex Power Limited (ASX:GNX) is pleased to announce that banks have received credit approval subject to final documentation for $175m of debt funding that will be utilised to finance the construction of the Company's 50MW Jemalong Solar Project in New South Wales.
Genex Power Limited (ASX:GNX) is pleased to announce that further to its announcement on 1 November 2019, the Northern Australia Infrastructure Facility (NAIF) Board has confirmed it has extended the date of its offer of long-term concessional loan funding for the Kidston Stage 2 Pumped Storage Hydro Project.
Genex Power Limited (ASX:GNX) wishes to provide the following update on the Kidston Pumped Storage Hydro project.
Genex Power Limited (ASX:GNX) is pleased to provide the following update on the Company's activities and performance for the first quarter of the 2020 financial year.
Genex Power Limited (ASX:GNX) welcomes the announcement from the Queensland Government in relation to the multi-million-dollar electrical infrastructure funding package for the Kidston Pumped Storage Hydro project transmission line.
Genex Power Limited (ASX:GNX) is pleased to provide the following update on the Company's performance for the 2019 statutory financial year (FY19) in which Genex delivered a significantly improved financial performance.
Genex Power Limited is an Australian publicly listed company on the ASX (ASX:GNX), focused on generation and storage of renewable energy. Genex is developing a clean energy hub in north Queensland, integrating large scale solar with pumped storage hydro.
Genex Power Limited (ASX:GNX) (Genex or Company) advises that the Company's Share Purchase Plan (SPP) closed at 5.00 pm last Thursday.