22 February 2017 marked the Official Ground-Breaking Ceremony for the Kidston Solar Project Phase One 50MW (KSP1 or Project) for Genex Power Limited (ASX: GNX) (Genex or Company), with support from the Queensland Government, the Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC).
Genex hosted the ceremony on-site in Kidston, Queensland, with Queensland’s Energy Minister Mark Bailey and ARENA CEO Mr. Ivor Frischknecht initiating the first sod-turning for the Project.
The Queensland Government awarded Genex a 20-year Revenue Support Deed as part of the Large-Scale Solar 150 Program. The Deed consists of a one-way price contract between Genex and the Queensland Government, guaranteeing the sale of electricity above a set floor price for 20 years.
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