Genex Power Ltd Stock Market Press Releases and Company Profile
AEMO Generator Performance Standard Approval Received for Kidston Pumped Storage Hydro Project
AEMO Generator Performance Standard Approval Received for Kidston Pumped Storage Hydro Project

Sydney, June 14, 2019 AEST (ABN Newswire) - Genex Power Limited (googlechartASX:GNX) (Genex or Company) is pleased to announce that the Australian Energy Market Operator (AEMO) has completed its assessment of the Generator Performance Standards (GPS) for the Kidston Pumped Storage Hydro Project (K2-Hydro or Project) and has issued their GPS approval for the Project by way of providing a letter pursuant to clause 5.3.4A of the National Electricity Rules.

AEMO, via transmission network service provider Powerlink Queensland (Powerlink), has determined that the Project can operate in accordance with the required electricity standards of the National Electricity Market (NEM). As a synchronous, scheduled generator, the Project will provide grid strength and stability attributes to the NEM, in particular, the North Queensland region.

The GPS approval is one of the most complex and significant milestones for K2-Hydro following a long and detailed submission process with AEMO and also satisfies a key condition in Powerlink's Offer to Connect, marking one of the final Project approvals required for financial close.

Commenting on the GPS approval, James Harding, CEO of Genex said:

"I would like to thank AEMO and Powerlink for their excellent cooperation and coordinated approach over the past few months in negotiating the performance standards for the project and allowing Genex to achieve this significant milestone. K2-Hydro will be the first pumped storage hydro project to be connected to the national electricity network in over thirty years. The GPS approval took a strong collaborative effort from all parties to agree the standards appropriate for this type of generator. I anticipate that future pumped storage hydro projects will benefit from the work required for Kidston."

To view figures, please visit:
http://abnnewswire.net/lnk/UG0U100X


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.

https://twitter.com/Genex_Power https://www.facebook.com/genexpowerlimited/ https://www.youtube.com/channel/UC0p4njH5MsRCfphzaZ2XLCA https://www.linkedin.com/company-beta/10858225?pathWildcard=10858225 abnnewswire.com 


Contact

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



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 5) (Last 30 Days: 23) (Since Published: 4927)