The Queensland Government has provided an AUD147 million (US$112.8 million) financing package to Genex Power for its planned 250 MW K2 pumped storage hydroelectric project.
The latest government financing will be used for the construction of a new 275 kV single circuit transmission line that will connect the pumped hydro project to the National Electricity Market (NEM). The transmission link will be built, owned, and operated by Powerlink.
The Kidston project will be built approximately 270km north-west of Townsville. in Queensland, Australia. The facility acts like a giant battery, pumping water uphill when energy is abundant and releasing it to create power at night or on a windless day. The project consists of the Upper reservoir: Wises Pit (52ha) and Lower reservoir: Eldridge Pit (54ha). The project features two 125MW reversible turbines.
Country updates
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February 17, 2021
Financial close reached for first stage of 720 MW Solar project in Australia
The first 400 MW stage of the New England Solar Farm project, located near Uralla in the New England region of New South Wales, achieved financial close on 11 February 2021 on a merchant basis (withou...
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February 17, 2021
Risen Energy signs power purchase agreement with BHP for 100 MW Merredin solar project in Western Australia
Risen Energy has signed a 10-year power purchase agreement (PPA) with BHP for the 100 MW Merredin Solar Farm to supply up to 50% of electricity needs at BHP’s Nickel West Kwinana refinery. The...
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February 16, 2021
Macquarie raises EUR1.6bn for renewable energy investment
Macquarie Infrastructure and Real Assets (MIRA) has raised more than EUR1.6 billion (US$1.94 billion) for investment in renewable energy with the final close of Macquarie Green Investment Group Renewa...
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February 15, 2021
Risen Energy signs power purchase agreement with BHP for the 100 MW Merredin solar project in Western Australia
Risen Energy has signed a 10-year power purchase agreement (PPA) with BHP for their 100 MW Merredin Solar Farm to supply up to 50% of electricity needs at BHP’s Nickel West Kwinana refinery. Th...
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February 15, 2021
AGIG proposes hydrogen project in Albury-Wodonga
Australian Gas Infrastructure Group (AGIG) is partnering on two renewable hydrogen project bids to the Australian Renewable Energy Agency (ARENA). In Victoria, Australian Gas Networks (AGN) – p...
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