Genex Power has now received all of the necessary environmental approvals required to develop its Kidston Pumped Storage Hydro project.
In granting final approval for the project, the Office of the Coordinator General noted that the project would:
- Support the Queensland Government’s target of generating 50 per cent of Queensland’s electricity needs from renewable energy by 2030
- Add stability and strength to the North Queensland network
- Reduce the need to import excess electricity from neighbouring regions
- Contribute to the ARENA target and the development of a Renewable Energy Zone in Far North Queensland
“Genex is very pleased to finalise the environmental approvals for the K2-Hydro project and allow efforts to be squarely focused on achieving the financial close,” CEO of Genex Power, James Harding, said.