Genex Power Limited has secured all environmental approvals required to develop the 250-MW Kidston Pumped Storage Hydro Project (K2-Hydro).
Genex Power says the approval process was facilitated by the Office of the Coordinator General, a benefit provided to the project following the Coordinated Project declaration by the Queensland State Government in October 2018 under the State Development and Public Works Organisation Act 1971 (Qld).
The Coordinator General’s evaluation of K2-Hydro, in granting the final approval, said the project would:
- Support the Queensland Government’s target of generating 50% of Queensland’s electricity needs from renewable energy by 2030;
- Add stability and strength to the North Queensland network;
- Reduce the need to import excess electricity from neighboring regions; and
- Contribute to the Australian Renewable Energy Target and the development of a Renewable Energy Zone in Far North Queensland.
“Genex is very pleased to finalize the environmental approvals for the K2-Hydro project and allow efforts to be squarely focused on achieving financial close,” said James Harding, chief executive officer of Genex Power. “Genex wishes to thank the Office of the Coordinator General for assisting with the approvals process and for the strong support shown to date for the development of the Project.”
The K2-Hydro project is part of the Kidston Renewable Energy Hub in far-north Queensland (Kidston Hub). The Kidston Hub is comprised of the operating 50-MW Stage 1 Solar Project (KS1), the K2-Hydro project and the multi-staged integrated solar project of up to 270 MW (K2-Solar) under development and the Kidston Stage 3 Wind Project of up to 150 MW under feasibility study.
Earlier this year, in February, Genex Power announced it had entered into an agreement with the joint venture of McConnell Dowell/John Holland to immediately commence an early works program on the K2-Hydro Project.