Genex picks preferred EPC contractor for 250-MW pumped hydro project
The site of the historical Kidston Gold Mine. Source: Genex Power (http://www.genexpower.com.au).
Genex Power Ltd (ASX:GNX) said today a joint venture between McConnell Dowell Constructors Aust Pty Ltd and Downer EDI Ltd (ASX:DOW) is the preferred engineering, procurement and construction (EPC) contractor for its 250-MW Kidston pumped storage hydro project at Kidston, North Queensland.
The Australian developer last week announced optimisation of the project design to increase its storage capacity by 25% to over 2,000 MWh and said it sees a clear pathway to financial close in 2018.
"As a combined force, the JV has a complementary skill set and a long track record of delivering hydro projects around the world, a strong balance sheet and proven project delivery capabilities – factors which are likely to materially contribute to the bankability and successful implementation of the project," Genex managing director Michael Addison said today.
Genex will now work with McConnell Dowell and Downer to complete final design optimisation and the full EPC and operations and maintenance (O&M) contracting process for the scheme. A tender for the electro-mechanical equipment will be conducted in November.