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Tag: Genex Power

Fortescue deal boosts Bulli Creek energy plans

Written by dev on . Posted in All News, Energy.

Fortescue Metals Group has signed up to draw energy from Genex Power's Bulli Creek solar and battery development to help power its Gibson Island project in Brisbane.

The 25-year solar power purchase agreement will secure 337.5 MW of the energy generated from the first stage (proposed at 450MW) of the project.

Genex is developing the Bulli Creek renewable energy project about 100km south-west of Toowoomba in partnership with J-POWER.

Fortescue is partnering with Gibson Island plant owner Incitec Pivot on a project . . .

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It’s official – lift-off for Kidston construction

Written by dev on . Posted in All News, Copper, Energy, Processing / Manufacturing.

Genex Power has pushed 'go' on the major construction contracts for North Queensland's $777 million Kidston hydro build.

Building the 250MW/2000MWh pumped storage hydro project as well as the electricity infrastructure required to connect it to the grid is tipped to deliver more than 800 new jobs in North Queensland.

The company today issued notice to proceed under the Engineering, Procurement and Construction (EPC) contract with a joint venture of McConnell Dowell and John Holland Group.

The EPC scope includes dam construction, underground and waterway civil works and the full powerhouse fit-out, including supply and installation of. . .

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Kidston hydro on track as NAIF loan finalised

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Genex Power has flagged it is on track to start construction this month and reach financial close in May on the $777 million Kidston pumped hydro project.

It has executed all outstanding financing documentation, including closing on a $610 million loan through the Northern Australia Infrastructure Facility (NAIF).

Genex chief executive officer James Harding.

Expected to be completed by 2024, the project will repurpose the old Kidston gold. . .

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Countdown to construction as Genex ticks more boxes

Written by dev on . Posted in All News, Energy, Processing / Manufacturing.

Genex Power has announced another milestone for its 250MW Kidston pumped storage hydro project, reaching project document contractual close.

It has also issued notice to proceed to Powerlink to enable work to commence on development on the new 186km 275kV transmission line from Kidston to a new switching station to be constructed at Mount Fox.

It comes after the company last week announced it had secured the final pieces of a $777 million financing package to will allow the Kidston pumped. . .

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Genex lines up final funds for $777m hydro project

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Genex Power says it has secured the final pieces of a $777 million financing package that will allow the Kidston pumped storage hydro project to proceed.

And it has flagged a start for construction activities at the North Queensland site next month.

It comes through the launch of a fully underwritten capital raising for $90 million, which will allow Genex to proceed with the construction and operation of the project on a fully owned basis.

. . .

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Powerlink deal a key step towards hydro start

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Kidston Pumped Storage Hydro Project developer Genex Power has finalised negotiations with Powerlink Queensland over the new energy hub's connection to grid.

It says building the electricity infrastructure together with the pumped hydro project will deliver more than 800 new jobs in North Queensland.

The key deal is among the pieces falling in place as Genex drives towards its recently stated timeline of achieving financial close and commencement of construction early in the second half of 2021.

It follows last month's news that Genex had secured an extension of its funding and technical services arrangemnet with J-Power. . .

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Regional businesses competing with the nationals

Written by dev on . Posted in All News, Coal, Energy, Processing / Manufacturing.

A Rockhampton-based company providing environmental, engineering and planning services across the country and into south-east Asia has written the template for other businesses wanting to locate to regional centres.

CQG Consulting was started in 2003 and has developed to the point where it’s involved in most of the significant projects in regional Queensland including in tourism, disaster management, mining, sugar, Councils and most recently Defence infrastructure says Mr Brown – Principal Engineer at CQG.

Competing on quality

He says they’ve needed to be as switched on to the. . .

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Genex update on Kidston hydro start date

Written by dev on . Posted in All News, Energy, Processing / Manufacturing.

Genex Power has issued an update on the expected start date for construction of its 250MW Kidston Pumped Storage Hydro Project in North Queensland.

Financial close - previously tipped for this month - and the start of construction are now expected to occur early in the second quarter of this year.

Construction of the $800 million project is expected to create about 500 jobs in North Queensland over the next four years.

Genex Power said it had continued to progress the project financing workstreams toward conclusion.

However, following a period of significant activity with. . .

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Kidston connection deal paves way for 400 jobs

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Genex Power has welcomed a $147 million State Government pledge that will see its Kidston Pumped Storage Hydro Project hooked up to the national grid.

The transmission line for the North Queensland power project is expected to support more than 400 new jobs during its construction.

It will be built, owned and operated by Powerlink Queensland.

The funding package announced today represents a $15 million increase to the original $132 million the government agreed to provide. . .

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Kidston site prepped for project launch

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Contractors are at work on the Kidston hydroelectric power site, with preparations including upgrading the airstrip to support regular flights from Townsville and boosting camp accommodation to cater for hundreds of workers.

Genex Power initiated the early works program for the Kidston Pumped Storage Hydro Project, based at the former Kidston gold mine, after announcing last month that its board had formally resolved to proceed with financing and construction.

It came as the Northern Australia Infrastructure Facility (NAIF) Board confirmed an investment decision to provide a concessional loan of up to $610 million for the project.

“We've got. . .

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Backing to fast-track Kidston wind farm feasibility work

Written by dev on . Posted in All News, Energy, Gold.

Japanese public utility J-Power has signed up to help fund and develop Genex Power's proposed Kidston Stage-3 wind project.

The wind farm would be part of the $1 billion Kidston Clean Energy Hub, along with an existing solar farm and the cornerstone Kidston pumped storage hydro project, which Genex says is nearing financial close.

J-Power will earn a stake of up to a 50 per cent in the North Queensland wind farm through an initial contribution of $1.5 million to expedite monitoring, planning and other feasibility work over the next 12-18 months.

Genex Power. . .

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Genex expects to seal hydro project deal within weeks

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Genex Power expects to reach financial close on its Kidston Pumped Storage Hydro Project by the end of 2020 after a series of setbacks.

The company missed its September 2020 target date for delivering financial close on the project, which is expecetd to deliver 500 jobs in construction.

But chairman Ralph Craven, speaking at the company AGM, said Genex was now in the final stages of negotiations with an investor to take up a 50 per cent interest in the project.

. . .

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Setback for pumped hydro project timetable

Written by dev on . Posted in All News, Energy, Gold, Processing / Manufacturing.

Genex Power is working to finalise financing for its Kidston Pumped Storage Hydro Project after a the State Government this week reaffirmed its commitment of $132 million towards transmission infrastructure.

The 250MW energy project, being built at the old Kidston gold mine site, has a total construction pricing of about $600 million, excluding transmission costs, financing costs and development costs to date.

The company said its project financing timetable had been delayed and it was no longer expected to reach financial close by September 30.

The Northern Australia Infrastructure Facility (NAIF) has extended its offer of funding until January 31. . .

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Genex secures site for Rocky battery storage project

Written by dev on . Posted in All News, Energy.

Genex Power has secured land adjacent to Powerlink's Bouldercombe substation near Rockhampton for its large-scale battery storage project.

The energy company said it intended to fast-track the development and would seek to have the project operational in the first half of 2022.

Genex has also selected its preferred battery supplier following a competitive tender process, but did not name the company in today's announcement.

"Genex is pleased to have signed this agreement with Powerlink in relation to the proposed 50MW/75MWh battery energy storage system project at Bouldercombe. . .

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Genex Power raises cash to fast-track CQ battery project

Written by dev on . Posted in All News, Energy.

Genex Power is on a fundraising drive to help fast-track the planned Como battery project in Rockhampton and cover financial close costs for the Kidston hydro project.

The company has raised just over $21 million through a successful share placement and announced a share purchase plan today to raise a further $7 million.

It comes after Genex Power last week revealed plans for a 50MW/75MWh Como battery storage project in Rockhampton, with construction planned to begin next year.

Genex Power. . .

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Genex to bring big battery project to Rockhampton

Written by dev on . Posted in All News, Energy, Gold.

Genex Power has revealed plans for a big battery project in Central Queensland, with construction planned to begin next year.

The 50MW/75MWh Como battery storage project will be built near Rockhamption and is expected to cost around $50 million to bring online.

Genex Power is also continuing to advance its Kidston pumped hydro project south-west of Cairns, with an expected cost of $700 million.

"This battery project is very consistent with our strategy of being Australia's leading renewable energy company and energy storage company, across technologies," executive director Simon Kidston said.

"We'll have pump storage hydro. . .

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