Published: 20 May 2021, 13:39
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Image: Genex Power.
Australian renewable energy developer Genex Power has achieved financial close on what looks likely to be the country’s first new pumped hydro energy storage (PHES) plant in nearly 40 years.
This morning ARENA said in a release that financial close has now been reached for the AU$777 million project to be able to go ahead. The cost includes transmission infrastructure to take power away to the northeast coast of Australia some 190km away, where its stored energy can be used in the National Electricity Market (NEM). The 250MW / 2,000MWh Kidston Stage 2 PHES plant, which will be able to store and discharge energy for up to eight hours.
Genex Power Ltd (ASX:GNX) Achieves Financial Close for Kidston Hydro - ABN Newswire (@ABN_Newswire)
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Green light given to construct Queensland pumped hydro plant
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