Genex Power Limited has announced that the 250 MW Kidston Pumped Storage Hydro Project (K2-Hydro) has been declared a Coordinated Project by the Queensland State Government. The declaration will expedite the path for Genex to acquire the remaining approvals from the state government. Construction of the K2-Hydro project is currently scheduled to begin in 2019. Genex is a renewable energy power generation and storage company that is headquartered in Sydney, Australia.
The K2-Hydro project will become part of the Kidston Renewable Energy Hub in northern region of Queensland. The Kidston Hub consists of the operating 50-MW Stage 1 Solar Project, the under development 270 MW K2-Solar Project and the planned K2-Hydro Project. A fourth project, the Kidston Stage 3 Wind Project is currently being evaluated for inclusion into the Kidston Hub.
The Australian Renewable Energy Agency provided US $9 million for the K2-Hydro Project. The Kidston Hub is a critical component for Queensland to achieve 50% of the state’s electricity from renewable energy by 2030.