Annual Report to Shareholders
Sydney, Aug 27, 2021 AEST (ABN Newswire) - Genex Power Ltd (
ASX:GNX) provides the Annual Report for the 2021 Financial Year (FY21), a year in which the Company commenced construction on our flagship Kidston Pumped Hydro Project (K2-Hydro) and continued to execute on our strategy of building a diversified renewable energy and storage company.
Since listing on the ASX in July 2015, Genex has constructed 100MW of solar energy capacity, secured over $1 billion in renewable energy funding, and commenced construction on the first pumped hydro project to be built in Australia in 40 years. These are impressive achievements that would not have been made possible without the hard work and dedication of the team.
Genex's immediate focus will be on the construction activities currently underway at K2-Hydro and the advancement of our medium-term growth projects, the BBP and K3-Wind. The delivery of these projects will further position Genex as a leader in the Australian renewables and energy storage market.
To view the Annual Report, please visit:
https://abnnewswire.net/lnk/AGJ4P60P
About Genex Power Ltd
Genex Power Limited (ASX:GNX) is focused on developing a portfolio of renewable energy generation and storage projects across Australia. The Company's flagship Kidston Clean Energy Hub, located in north Queensland, will integrate large-scale solar generation with pumped storage hydro. The Kidston Clean Energy Hub is comprised of the operating 50MW stage 1 Solar Project (KS1) and the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro) with potential for further multi-stage wind and solar projects. The 50MW Jemalong Solar Project (JSP) is located in NSW and provides geographical diversification to the Genex Power Limited portfolio. JSP was energised in early December 2020 and commissioning is now underway. Genex is further developing its energy storage portfolio via the early stage development of a 50MW/75MWh standalone battery energy storage system at Bouldercombe in Queensland. With over 400MW of renewable energy and storage projects in development, Genex is well placed as Australia's leading renewable energy and storage company.
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