Genex Power has signed a deal to secure the land option to develop a wind farm project up to 150MW as stage three of its Kidston’s Renewable Energy Hub in North Queensland.
Genex signed the binding heads of agreement with local landholders with the exclusive option to develop stage three of the project, with the new wind farm (K3-Wind) set to become the world’s first solar, wind and pumped storage hydro technology project.
The project is expected to benefit from naturally elevated topography along an escarpment of approximately 21km in length.
According to the company, the project area could be developed into a wind farm of up to 150MW, and connect into the National ELectricity Market via the proposed new 275Kv transmissions line at Kidston to be developed as part of its stage two project.
The K3-Wind Project represents the company’s fourth project in its development pipeline.
In combination with the existing stage one solar and planned stage two solar and hydro projects, the proposed K3-Wind Project could provide inversely correlated generation which could enable the dispatch of firm clean renewable electricity 24 hours a day, seven days a week.
Genex will now undertake a detailed feasibility study to assess and determine the technical and economic feasibility of constructing and operating a wind farm of up to 150MW at Kidston which will include a full assessment of the wind resource at the project site, transmission requirements, capital and operating costs, and firming up of anticipated capacity factors.
Genex’s Managing Director, Michael Addison, said, “Whilst our immediate focus as a company is to secure project financing for stage two of the Kidston Renewable Energy Hub, the proposed wind farm should give us diversity across three renewable energy sources at the one site, and would be a world-first development of integrated solar, wind, and pumped hydro technology – potentially allowing GENEX to provide firm renewable energy 24 hours a day, seven days a week.
“We view K3-Wind as the first of a number of diversified future projects that will selectively expand our corporate portfolio, and place Genex as one of the key renewable energy and energy storage developers in Australia.”