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Tag: hydroelectricity

Tully Millstream hydro on NQ First agenda

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

Reviving plans for the Tully Millstream hydro scheme north-west of Tully is a key job-creating project on NQ First's election platform.

Party leader and Whitsunday MP Jason Costigan has promised $400 million to make the hydroelectric power project a reality if NQ First wins the balance of power at the State election on October 31.

Mr Costigan, who made the announcement in Cairns today, said the Far North Queensland project had been talked about for decades, but under Labor and the LNP nothing had eventuated.

. . .

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Genex powers ahead with Kidston hydro plans

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

Genex Power has pinned down construction pricing and secured a further extension for its NAIF loan offer as it steams towards financial close for the Kidston Pumped Storage Hydro Project.

Genex chief executive officer James Harding said the company was focused on starting construction in the coming months - creating an estimated 500 jobs in North Queensland over the next four years.

The 250MW energy project, being built at the old Kidston gold mine site, has a total construction pricing of about $600 million.

In an update today, Genex said it had finalised terms with its core contractors, who include:

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Offtake deal breakthrough for FNQ power project

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

Genex Power has secured the energy offtake deal needed to push ahead with the Kidston hydro project in Far North Queensland.

EnergyAustralia has agreed to an Energy Storage Services Agreement for up to 30 years for full dispatch rights from the planned 250MW plant.

Genex expects to begin construction in the third quarter of this year, creating about 500 jobs over a build time of more than three years.

"It's now just a matter of dotting the i's and crossing the t's with financing," executive director Simon Kidston said. . .

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J-Power backs Kidston pumped storage project

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

J-Power has recommitted to the Kidston pumped storage hydro project, signing a new memorandum of understanding with project proponent Genex Power.

“We are delighted that J-Power has shown faith in Genex and our K2-Hydro project with the execution of this MOU and to continue discussions along the lines of those originally announced in June this year,” Genex chief executive officer James Harding said.

“We will work as quickly as we can to conclude arrangements with J-Power as part of the restructuring of the K2-Hydro transaction with a view to reaching financial close for the project. . .

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Genex wins breathing space on $610m NAIF loan offer

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

The Northern Australia Infrastructure Facility (NAIF) Board has extended its $610 million loan offer for the Kidston Stage 2 pumped storage hydro project.

Concerns were raised over the status of the loan offer last week after electricity retailer EnergyAustralia dashed proponent Genex Power’s hopes of reaching financial close on the project this quarter when it failed to commit to a long-term energy agreement.

Genex said today that the NAIF Board had confirmed. . .

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Funding setback for NQ pumped storage hydro project

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

A setback for Genex Power has sparked fears over the future of the NAIF loan approved for the $700 million Kidston pumped storage hydro project.

Labor Senator for Queensland Murray Watt said the renewable energy project's $610 million Northern Australia Infrastructure Facility loan - the largest ticked off under NAIF so far - was now under a cloud.

It came after electricity retailer EnergyAustralia dashed Genex's hopes of reaching financial close on the project this quarter.

EA advised Genex last week that it 'would not be in a position to reach a positive investment decision on the basis of the. . .

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State stumps up $132m for Kidston transmission line

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

Powerlink will build a $132 million transmission line to link Genex Power’s $1 billion Kidston renewables hub to the electricity grid.

The State Government says work will start early next year on the electrical infrastructure package, critical to the Kidston Stage 2 development.

It follows the announcement in July that the Kidston Stage 2 Pumped Storage Hydro Project (K2-Hydro) had secured a $610 million loan under the Northern Australia Infrastructure Facility.

“North Queensland has high quality wind and hydro-electric resources and providing. . .

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Kidston hydro gets NAIF funding

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

The Federal Government will stump up a $610 million loan to Genex Power to finance the Kidston Stage 2 Pumped Storage Hydro Project (K2_Hydro).

The project is on the old Kidston Mine south west of Cairns.

The long-term concessional debt facility comes out of the Northern Australia Infrastructure Facility.

The K2 Hydro project was progressing well said Executive Director Simon Kidston.

His confidence was based on the start of an early works program on hydraulic design of the turbines, environmental approvals and a $25 million share subscription agreement, among others.

NAIF’s investment decision is subject to the. . .

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Japanese backing for Kidston hydro project

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

A Japanese energy company will invest up to $25 million in Genex Power, helping advance construction of the 250-MW Kidston Pumped Storage Hydro Project.

Genex has signed a share subscription agreement (SSA) with Electric Power Development Co, trading as J-Power.

“Genex is pleased to announce this exciting partnership with J-Power,” Genex chief executive officer James Harding said.

“J-Power are a global expert in hydroelectric projects, including pumped storage, and as such they bring significant experience and technical expertise to Genex to support in the delivery of the K2. . .

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Environmental boxes ticked for NQ hydro project

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

Genex Power has secured all of the environmental approvals needed to develop its Kidston Pumped Storage Hydro project.

The pumped storage hydro project is the centrepiece of the planned $1 billion Kidston energy hub, located at the former Kidston gold mine site about 280km north-west of Townsville.

The approval process was facilitated by the Office of the Co-ordinator General after the project was declared a Coordinated Project by the State Government.

“Genex is very pleased to finalise the environmental approvals for the K2-Hydro project and allow efforts to be squarely focused on achieving financial close,” chief executive. . .

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JV to start early works for Kidston hydro project

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

Genex Power has entered an agreement with the McConnell Dowell/John Holland joint venture to immediately start early works on the 250MW Kidston pumped storage hydro project.

Genex said the agreed program of works would accelerate development of the project ahead of financial close, expected in the first half of this year.

It will focus on work surrounding hydraulic design and related activity for the hydro turbines, followed by preliminary electrical design work and other preparations.

The pumped storage hydro project is the centrepiece of the planned $1 billion Kidston energy hub, located at the former Kidston gold mine site. . .

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Special status for renewable energy hub

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

The State Government has declared Genex Power's 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) a Coordinated Project, clearing the pathway to finalise approvals.

"This declaration is recognition of the significant positive benefits that the project will have to the region and state, and coming on the heels of the recently announced Development Approval provides further support from the Office of the Coordinator General as we finalise outstanding environmental approvals ahead of closing the financing and commencing construction in 2019,” Genex chief executive officer James Harding said.

The planned $1 billion Kidston energy hub is comprised of the operating. . .

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Entura takes the reins at $1b renewable energy project

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

Genex Power has appointed Entura as owner’s engineer (OE) for the Stage 2 development at its planned $1 billion Kidston Renewable Energy Hub in North Queensland.

Entura will will undertake detailed design and engineering verification as well as providing construction and commissioning advice during the Project implementation phase, working closely with the Engineering, Procurement and Construction (EPC) contractors.

The appointment covers Genex Power's planned 250MW Pumped Storage Hydro project (K2H) and the adjacent multi-staged 270MW Solar project (K2S).

“We are delighted to appoint Entura as our Owner’s Engineer for the Kidston Stage 2 projects," Genex chief. . .

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Kidston energy project wins NAIF backing

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

Genex Power has secured a term sheet for up to $516 million in concessional finance from the Northern Australia Infrastructure Facility (NAIF) to support its Kidston Stage 2 project in north Queensland.

The company has already commissioned Stage 1 (K1), a 50MW solar project at the former Kidston gold mine.

Stage 2 includes a planned 250MW pumped storage hydro project, combined with up to 270MW further large-scale solar generation, and Stage 3 would add up to 150MW of wind power at the $1 billion Kidston Renewable Energy Hub.

Genex chief executive officer James Harding described securing the NAIF support. . .

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Entsch urges serious examination of hydro scheme

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

Federal MP Warren Entsch has urged environmental groups to back the Tully Millstream Hydroelectric Scheme if a feasibility study says the far north Queensland project is viable.

Mr Entsch, chairman of the Joint Select Committee on Northern Australia, and State Member for Hinchinbrook, Andrew Cripps, have called for a feasibility study to see if the hydroelectric project, first suggested in the 1980s, can play a major role in powering the region.

A feasibility study was carried out by the Snowy Mountains Engineering Corporation in 1988, but the creation of the Wet Tropics World Heritage Area, in which part of the. . .

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Push to revive Tully Millstream hydro scheme

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

It is time to revisit the proposed Tully Millstream Hydroelectric Scheme (TMHS), north-west of Tully, says local MP Andrew Cripps.

The State Member for Hinchinbrook, who is also Opposition spokesman for Natural Resources, Mines and Northern Development, has written to Deputy Prime Minister Barnaby Joyce requesting Australian Government support for an updated feasibility study for the project.

"I strongly believe this project has great merit.  A serious feasibility study has not been undertaken since the late 1980s," Mr Cripps said.

"The Snowy Mountains Engineering Corporation (SMEC) undertook a full technical study, which was completed in 1988.

"Sadly, the declaration. . .

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