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. The project will be built by a consortium of Chinese state-owned companies and Australian companies, including China State Grid Corporation (CSGC), which has been awarded an AUD 2.3bn ($3.2bn)
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.