The Etheridge Shire Council has given development approval (DA) for stage two of the Kidston solar project (K2-Solar).
The DA is for a maximum of 270MW but Genex has the potential to build K2-Solar in stages to match energy offtake and energy transfer capabilities. This represents a significant milestone for the K2 projects.
As with Kidston solar stage one (KS1), K2-Solar will benefit from being located within the highest solar radiation zone in Australia.
Genex continues to advance the Early Contractor Involvement (ECI) process toward agreeing full fixed price Engineering, Procurement and Construction (EPC) wrap contracts with UGL for K2-Solar and with McConnell Dowell/John Holland Joint Venture (JV) for K2-Hydro.
EPC contracts are expected to be finalised by the end of June 2018.
As part of the ECI process for K2-Hydro, the JV has selected ANDRITZ, an international tier-one supplier and global leader in hydraulic power generation, as the preferred electromechanical equipment supplier
Managing Director of Genex Power, Michael Addison, said, “After several months of detailed market engagement, we are now in negotiations in regards to securing debt funding for our Kidston stage two projects with a select group of partners.
“Genex’s main focus remains on progressing the Kidston stage two 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 Federal Government, through the Australian Renewable Energy Agency (ARENA), has provided $8.9 million in funding to support the construction of Genex’s KS1 Project, and up to $9 million in funding to support the development of K2-Solar and K2-Hydro.
The Queensland Government has continued to support the development of the Kidston Renewable Energy Hub, providing a 20-year revenue support deed for KS1 through the Solar 150 Program, and designating the Hub as ‘Critical Infrastructure’ to the state.