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KIDSTON PUMPED STORAGE HYDRO PROJECT DECLARED COORDINATED PROJECT

Genex Power ‘s 250MW Kidston Pumped Storage Hydro Project has been declared a Coordinated Project by the Queensland State Government. The Coordinated Project declaration now provides an expedited pathway for Genex to finalise all outstanding approvals for the Project.

Commenting on the declaration, CEO of Genex James Harding stated, “Genex welcomes the Coordinated Project declaration by the Queensland State Government. 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”.

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said, “The Project complements the State’s shift to renewable energy and supports the target of generating 50 per cent of Queensland’s electricity needs from renewable energy by 2030, as identified in The Powering Queensland Plan. The addition of hydroelectric generation in Northern Queensland will add stability and system strength to the network in the region reducing the necessity for importing excess electricity from neighbouring areas, providing a benefit to the entire network.

This renewable energy storage project has the ability to revitalise the local economy and I commend Genex on making sure locals benefit from the project.”

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