Funds for energy hub extended

A MAJOR energy project for North Queensland remains on track after the Northern Australia Infrastructure Facility approved a loan extension to the company behind it.

Resources, Water and Northern Australia Minister Keith Pitt welcomed NAIF’S decision to extend the $610m loan offer to Genex Power.

“NAIF has again provided a significant vote of confidence in a project that will bring much-needed investment and jobs to regional Queensland,” he said. “Genex’s proposed Kidston Clean Energy Hub, 270km northwest of Townsville, will create more than 500 jobs during construction and at least 20 permanent jobs once operational. The project, which involves solar, hydro and wind power generation, will also deliver a pipeline of up to 770MW of electricity.

“It’s now just a matter of the Queensland government confirming its support to Genex for work to get under way on this important project.”

Herbert MP Phillip Thompson said the sooner the project could start the better.