Genex progresses on funding for Australia’s largest PV and pumped hydro project

Facebook
Twitter
LinkedIn
Reddit
Email
Construction of the first 50MW solar phase is currently on time and within budget. Credit: Genex

Australian energy firm Genex Power has received first-round board approval from the Northern Australia Infrastructure Facility (NAIF) for potential debt funding of its 270MW solar PV and 250MW pumped hydro projects, that are part of the Kidston Renewable Energy Hub, in Northern Queensland.

These huge projects are Phase Two of the Hub development, following an initial 50MW solar project for which Genex is progressing with construction on schedule and within budget, according to a company release. First generation from the Phase One project is expected in Q4 this year, with full completion in Q1 2018. The 50MW project reached financial close in February.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Genex provided a number of pictures showing the first 50MW phase being put together:

Credit: Genex
Credit: Genex
Credit: Genex

Genex Power managing director Michael Addison said: “The Project was recently declared by the Queensland Government as a Critical Infrastructure Project in conjunction with the Phase Two Projects (270MW Solar and 250MW Pumped Hydro), 275kV transmission line easement and the Copperfield Dam easement.”

Genex is now focusing its attention on the Phase Two projects, seeking energy partners, debt financing and energy infrastructure firms.

The second phase is particularly interesting given that it will potentially pair the solar generation with pumped hydro,  allowing for 24-hour power from renewables.

NAIF has now started due-diligence for potential funding.

Read Next

July 11, 2025
The Australian Energy Market Operator (AEMO) has revealed that several utility-scale solar PV power plants experienced curtailment of above 25% in the National Electricity Market (NEM) in 2024.
July 10, 2025
The Australian Renewable Energy Agency (ARENA) has announced a new AU$60 million (US$39.4 million) funding round to bolster R&D efforts to achieve ultra-low-cost solar.
Premium
July 8, 2025
In the latest NEM data spotlight, solar generation in Australia reached its yearly lowest month, while rooftop solar prices spiked to AU$225.57/MWh.
July 4, 2025
Australian retailer AGL Energy has confirmed its acquisition of South Australia’s Virtual Power Plant (SAVPP) from Tesla.
July 2, 2025
A new state-owned green bank, the Energy Security Corporation (ESC), has launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion (US$640 million).
July 2, 2025
Indigenous-led renewable energy company Yindjibarndi Energy Corporation (YEC) has submitted plans for a hybrid wind and solar PV renewable energy project to the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK