fbpx

Kidston

Nov 13, 2019
Genex wins breathing space on $610m NAIF loan offer

Genex wins breathing space on $610m NAIF loan offer

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… ...

Read More
Nov 07, 2019
Funding setback for NQ pumped storage hydro project

Funding setback for NQ pumped storage hydro project

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… ...

Read More
Sep 04, 2019
State stumps up $132m for Kidston transmission line

State stumps up $132m for Kidston transmission line

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… ...

Read More
Jul 11, 2019
Kidston hydro gets NAIF funding

Kidston hydro gets NAIF funding

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… ...

Read More
Jun 08, 2019
Japanese backing for Kidston hydro project

Japanese backing for Kidston hydro project

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… ...

Read More
Apr 15, 2019
Environmental boxes ticked for NQ hydro project

Environmental boxes ticked for NQ hydro project

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… ...

Read More
Feb 16, 2019
JV to start early works for Kidston hydro project

JV to start early works for Kidston hydro project

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… ...

Read More
Dec 18, 2018
Gold rush worth the wait for Kidston miners

Gold rush worth the wait for Kidston miners

In many ways Kidston has had an unusual history, according to James Cook University historian Jan Wegner. “Kidston was established surprisingly late,” Dr Wegner said. “The three gold-bearing hills later knownas Wise’s, Mack’s and North’s Knobs, a few kilometres from the Copperfield River, are part of the Etheridge goldfield which began in 1868. “Yet it… ...

Read More
Nov 05, 2018
Special status for renewable energy hub

Special status for renewable energy hub

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&#...

Read More
Menu