February 15 (Renewables Now) - Genex Power Ltd (ASX:GNX), the developer of the 250-MW Kidston pumped storage hydro (K-2 Hydro) project in Queensland, will initiate an early works programme prior to achieving financial close on the scheme, scheduled for the first half of this year.
The company announced on Friday it has signed a deal with a joint venture between a joint venture (JV) between McConnell Dowell Constructors Aust Pty Ltd and John Holland Pty Ltd, which was picked as the preferred engineering, procurement and construction (EPC) contractor. The JV will start implementing the programme immediately in order to speed up the development of the project.
The programme covers works related to the hydraulic design and related activity for the hydro turbines and will be carried out ahead of the planned preliminary electrical design and other preparation activities.
The K-2 Hydro project is part of the Kidston renewable energy hub in far-north Queensland and is planned to have an integrated solar component of up to 270 MW, called K-2 Solar. The hub consists of a 50-MW operating solar project and also includes a wind project of up to 150 MW under feasibility.
At end-2018, Genex unveiled a non-binding deal with EnergyAustralia that gives the energy retailer exclusive rights to sign an off-take agreement for the K-2 Hydro project in and make an equity investment in the scheme.