Go-ahead for hydro project to power up

THE $330 million Kidston Pumped Storage Hydro Project west of Cairns has received all environmental approvals required for development.

Genex Power Limited said the approval process was facilitated by the Office of the Coordinator General after the project, 400km west of Cairns, was declared a co-ordinated project declaration by the State Government in October 2018.

“Genex notes the positive statements from the Co-ordinator General’s evaluation of Genex’s K2-Hydro Project in granting the final approval, including that the project would support the Queensland Government’s target of generating 50 per cent of Queensland’s electricity needs from renewable energy by 2030,” a statement by the company said.

It also said the Kidston project, which is being built on a former gold mine, would add stability and strength to the north Queensland network, reduce the need to import excess electricity from neighbouring regions and contribute to the Australian Renewable Energy Target and the development of a Renewable Energy Zone in Far North Queensland.

“Genex is very pleased to finalise the environmental approvals for the K2-Hydro project and allow efforts to be squarely focused on achieving financial close,” Genex Power chief executive James Harding said.

“Genex wishes to thank the Office of the Co-ordinator General for assisting with the approvals process and for the strong support shown to date for the development of the project”.