Genex Power (ASX:GNX) talks capital raising and Kidston project


by Carolyn Herbert

Genex Power (ASX:GNX) is a renewable energy generation and energy storage company. We are listed on the ASX and we are developing three projects in North Queensland.

We call those projects a renewable energy hub and they comprise of Solar farm stage 1, a second stage standard solar farm and pump storage hydro project.

Our solar project has commenced construction. We are on track to deliver our first revenues by October this year and for us that is a major milestone. We have negotiated a fixed price contract with UGL, so that will de-risk that project.

For our second project solar stage 2, we are working on a feasibility study and we expect to complete that shortly. In terms of our hydro project, with the feasibility completed, we are in funding discussions with government and banks as we progress towards financial close of that project.  

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.