Genex Power has entered into an agreement with a joint venture between McConnell Dowell and John Holland (MDJH-JV) to immediately commence the early works program for the 250MW Kidston Pumped Storage Hydro project (K2-Hydro).
MDJH-JV will start work on an agreed programme of works to accelerate the development of K2-Hydro ahead of its financial close, which remains on track for the first half of 2019.
The early work program will focus on work surrounding the hydraulic design and related activity for the hydro turbines, one of the longest lead time items in the K2-Hydro construction programme, and will be followed by preliminary electrical design work and other project preparation activities.
Genex CEO, James Harding, said, “Embarking on this early works program with the MDJH-JV is a significant milestone for Genex as work gets underway on our biggest project, which has been in planning for a number of years.
“Genex continues to work closely with Powerline, the Queensland State Government, NAIF, ARENA, EnergyAustralia and other key stakeholder to finalise the remaining activities ahead of the financial close milestone.”