Genex Power’s Kidston Renewable Energy Hub has been accelerated with the $330 million Hydro Storage project declared a coordinated project.
The project at the decommissioned Kidston Gold Mine in Etheridge Shire, has proposed an innovative use of two water-filled mine pits to generate hydroelectricity.
Minister for State Development, Manufacturing, Infrastructure and Planning, Cameron Dick said the project could employ 370 people during the two-year construction and have a minimum lifespan of 50 years.
“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.”
“When complete, Stages 1 and 2 of the Kidston Renewable Energy Hub will provide enough energy to power around 160,000 Australian homes,” Mr Dick said.
“Stage 1 alone will produce enough power to supply more than 26,000 Australian homes, offsetting 120,000 tonnes of CO2 per year and remove 33,000 cars off Australian roads .
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”.
- Stage 1 is a solar power project (50 MW) which has been constructed.
- Stage 2 of Kidston is a proposed new solar project (270 MW) to assimilate with the K2H project (250 MW).
- Stage 3 is a 150 MW wind farm project which is at feasibility stage.
Energy generated by Stage 2 will be via a new transmission line connecting the site to Mount Fox, near Ingham.
If approved construction is due to commence in 2019 and expected to be completed by 2021.