Genex completes funding on Kidston Pumped Hydro

RENEWABLE Energy developer Genex Power has launched a A$90 million fully underwritten placement and entitlement offer as part of a A$115 million equity raise to complete financing for the Kidston Pumped Storage Hydro Project – the first pumped hydro plant built in Australia in over 30 years.

Genex completes funding on Kidston Pumped Hydro Genex completes funding on Kidston Pumped Hydro Genex completes funding on Kidston Pumped Hydro Genex completes funding on Kidston Pumped Hydro Genex completes funding on Kidston Pumped Hydro

Will now own and operate on 100% basis

Genex said it has secured the final financial piece of the $777 million project, which will allow it to proceed with the construction and operation of the project on a 100%-owned basis.