Genex Power Ltd Stock Market Press Releases and Company Profile
Kidston Solar Project Phase One 50MW Update
Kidston Solar Project Phase One 50MW Update

Sydney, April 20, 2017 AEST (ABN Newswire) - Genex Power Limited (googlechartASX:GNX) (Genex or Company) is pleased to advise that the construction program for Phase One 50MW Kidston Solar Project (KSP1 or Project) remains on track.

Construction progress

Key activities since the last update on 15 March 2017 include:

- Site clearing more than 50% complete
- Construction site facilities installed
- Ergon substation at Kidston civil works completed
- Access road construction underway
- Earthworks underway for the solar farm substation and O&M platform
- Laydown area for materials storage and component assembly 70% complete
- Order placed for the main transformer for the solar farm substation.

The Project remains on budget and on track for First Generation in Q4 2017 and Practical Completion in Q1 2018.

Commenting, Managing Director of Genex Power Michael Addison said, "activity on site continues to ramp up with the construction program well underway. Genex remains very focused on delivering the project on time and on budget. The outlook for wholesale electricity and Large-scale Generation Certificates (LGCs) remains very strong which has the potential to deliver strong early cash flows to Genex".

The Federal Government, through the Australian Renewable Energy Agency has provided $8.9 million funding to support the construction of the $126 million Kidston Solar Farm.

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About Genex Power Ltd

Genex Power Ltd ASX:GNXGenex Power Limited (ASX:GNX) is focused on developing a portfolio of renewable energy generation and storage projects across Australia. The Company's flagship Kidston Clean Energy Hub, located in north Queensland, will integrate large-scale solar generation with pumped storage hydro. The Kidston Clean Energy Hub is comprised of the operating 50MW stage 1 Solar Project (KS1) and the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) with potential for further multi-stage wind and solar projects. The 50MW Jemalong Solar Project (JSP) is located in NSW and provides geographical diversification to the Genex Power Limited portfolio. JSP was energised in early December 2020 and commissioning is now underway. Genex is further developing its energy storage portfolio via the early stage development of a 50MW/75MWh standalone battery energy storage system at Bouldercombe in Queensland. With over 400MW of renewable energy and storage projects in development, Genex is well placed as Australia's leading renewable energy and storage company.

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Contact

Simon Kidston
Executive Director
Tel: +61 2 9048 8850
Email: sk@genexpower.com.au



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