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.