An early works programme is to commence on the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) at Genex Power’s Renewable Energy Hub at Kidston in North Queensland, after Genex signed an agreement with the Joint Venture of McConnell Dowell/John Holland (MDJH-JV).
Pursuant to the agreement, the MDJH-JV will commence work on an agreed programme of works to accelerate the development of the project ahead of Financial Close which remains on track for H1 2019.
The early works programme will focus on work surrounding the hydraulic design and related activity for the hydro turbines, one of the longest lead time items in the K2-Hydro construction programme, and will be followed by preliminary electrical design work and other project preparation activities.
“Embarking on this early works programme with the MDJH-JV is a significant milestone for Genex as work gets underway on our biggest project which has been in planning for a number of years,” commented CEO of Genex, James Harding. “ Genex continues to work closely with Powerlink, the Queensland State Government, NAIF, ARENA, EnergyAustralia and other key stakeholders to finalise the remaining activities ahead of the Financial Close milestone.
“The Kidston Pumped Hydro Project will play a vital role in facilitating and supporting the further penetration of renewable energy in the National Electricity Market.”