Genex Power (ASX:GNX) is pleased to announce that it has today entered into a Sale and Purchase Agreement for the acquisition of the Jemalong Solar Project development in NSW.
This acquisition is complementary to Genex’s existing solar and hydro power projects in North Queensland and reflects the Company’s aim to become one of the market leaders in renewable energy and storage development.
Genex’s longer-term strategy is to expand its portfolio of assets and diversify into other regions within the National Electricity Market.
The acquisition is contingent upon all conditions being met by the vendor by the end of February 2019.
Shares in Genex Power (ASX:GNX) are flat at 27 cents.