Australia 's Genex Power is scheduled to reach full financial close on its Kidston Stage 2 Pumped Storage Energy Project ( K2-Hydro ) before 30 September , after the Northern Australia Infrastructure Facility granted AUD610 million ( $ 500 m ) in debt funding . K2-Hydro will combine wind and solar , while utilising a disused coal mine for a closed - circuit pumped hydro system able to generate 250 MW/2 MW of what the Smart Energy Council calls " dispatchable , stored , renewable energy " for the far north of Queensland .
Australia's Genex Power is scheduled to reach full financial close on its Kidston Stage 2 Pumped Storage Hydro Project (K2-Hydro) before 30 September, after the Northern Australia Infrastructure Facility granted AUD610m ($426m) in debt funding. K2-Hydro will combine wind and solar, while utilising a disused gold mine for a closed-circuit pumped hydro system able to provide 250 MW/2 GWh of what the Smart Energy Council called "dispatchable, stored, renewable energy" for the far north of Queensland.