Genex Power has secured development approval (DA) from the Etheridge Shire Council for its 270MW Kidston Stage 2 Solar project.
The Kidston Renewable Energy Hub, located in Northern Queensland on the site of the Kidston Gold Mine, will be constructed in two phases.
Stage 1 includes a 50MW solar project, while the second stage will include 270MW of solar co-located with the 250MW Kidston Pumped Storage Hydro Project.
Genex Power managing director Michael Addison said the project was now a step closer to financial closure.
“After several months of detailed market engagement, we are now in negotiations in regards to securing debt funding for our Kidston Stage 2 projects with a select group of partners,” Mr Addison said.
“Genex’s main focus remains on progressing the Kidston Stage 2 projects to financial close in calendar year 2018.
“Concurrently, Genex continues to consider further renewable opportunities to broaden its project pipeline, as the company evolves into a broader renewable energy generation and storage developer.”
The company also announced it was advancing the early contractor involvement process toward agreeing engineering, procurement and construction (EPC) contracts with UGL for Kidston Stage 2 and McConnell Dowell/John Holland joint venture for Kidston Pumped Hydro Storage.
The EPC contracts are expected to be finalised by the end of June.
