“The Australian renewable energy industry is expected to grow strongly in 2017.
Growth will be underpinned by reductions in project capital costs, strong government support and stable regulatory framework.
Genex Power is one of the companies rapidly developing projects and is therefore at the forefront of the transition from a carbon economy to a renewable energy economy.
Genex will commence construction of the $120 million Kidston 50MW Solar PV project (near Georgetown in North Queensland) in early 2017.
The government recognises the importance for low-cost, large-scale energy storage, especially as the proportion of intermittent wind and solar PV generation increases.
Genex’s Kidston Pumped Storage Hydro Project is an effi cient means of energy storage , enabling energy to be dispatched during hours of peak demand.
Genex has recently completed a technical feasibility study of its Kidston Pumped Storage Hydro Project, demonstrating its potential to store energy at low cost. Construction for this project is on track to commence late 2017.”
– Genex Power executive director Simon Kidston