Genex Power has secured a land option to develop a 150MW wind farm as stage 3 of its Kidston Renewable Energy Hub.
The company has signed a binding heads of agreement with local landholders with the exclusive option to develop a new wind farm with capacity of up to 150MW at the North Queensland project.
The project would connect into the national electricity market (NEM) via the proposed new 275kV transmission line to be developed as part of the Kidston Stage 2 projects.
“While our immediate focus as a company is to secure project financing for stage two of the Kidston Renewable Energy Hub, the proposed wind farm should give us diversity across three renewable energy sources at the one site and would be a world-first development of integrated solar, wind and pumped hydro technology – potentially allowing Genex to provide firm, renewable clean energy 24 hours a day, 7 days a week,” Genex managing director Michael Addison said.
“We view K3-Wind as the first of a number of diversified future projects that will selectively expand our corporate portfolio and place Genex as one of the key renewable energy and energy storage developers in Australia.
“We will continue to seek to develop innovative projects that expand and complement the company’s portfolio and take advantage of significant existing infrastructure, to minimise capital costs and development timeframes, and enhance returns to shareholders.”
Genex will now commence a detailed feasibility study to assess the technical and economic feasibility of constructing and operating the wind farm.
The study may take up to 18 months.