1. Kidston Gold Mine

2. Genex Kidston Renewable Energy Hub
     Stage One: 50MW Solar Farm (KS1)    Stage Two: 250MW Pumped Storage Hydro (K2-Hydro) & 270MW Solar Farm (K2-Solar)    Stage Three: 150MW Wind Farm (K3-Wind)  

3. Jemalong Solar Farm (JSP)

4. Pumped Storage Hydro

Genex Power Pty Ltd, is an Australian publicly listed company on the ASX ('GNX')^[1]. Genex Power focuses on generation and storage of renewable energy all over Australia. The company is currently developing a Renewable Energy Hub in north Queensland which integrates large-scale solar with Pumped Storage Hydro^[2]. The Kidston Renewable Energy Hub is a world first whereby solar energy has been operationally integrated with hydro to create a low-cost energy storage battery^[3]. During the second half of 2018 the company acquired the 50MW Jemalong Solar Project^[4], located near Forbes in NSW, which is still under development, with constructed expected to commence 2019^[5].

Kidston Gold Mine

The Kidston Gold Mine was once Australia's biggest gold producer^[6]. The Gold Mine is Australia's largest open-cut gold mine^[7], located 110km south of Einasleigh Qld. Gold was originally discovered in the area during the 1880s^[6] however, the location was never disclosed and it wasn't until 1907 when the alluvial field was opened^[6]. Kidston had its own battery built in the 1920s^[6] which was built by the Queensland Government. The battery was used up until the mine was closed down in 1945^[6]. In 1979 Kidston Gold Mines applied to the Queensland Government to start production again^[6]. From 1985 to 2001 the mine was working at full capacity under the ownership of Kidston Gold Mine^[6].

Mining Production of Kidston Gold Mine from 1986 - 2000

Fig.1. Kidston Gold Mine production^[8]

Genex Kidston Renewable Energy Hub

The Genex Kidston Renewable Energy Hub is comprised of three stages^[9]

Stage One: 50MW Solar Farm (KS1)

Stage one reached Practical Completion in December 2018^[10] However, it has been generating energy into the [https://www.aemo.com.au/Electricity/National-Electricity-Market-NEM National Electricity Market (NEM)] since late 2017^[10]. KS1 generates 145,000MWh/pa with a project lifespan of 30 years^[11]. This specific site was selected in order to take advantage of the existing infrastructure left behind from the abandoned Kidston Gold Mine which has been utilised by positioning of the 50MW Solar Farm on the tailings storage facility of the mine.

The Queensland Government has positively backed KS1 by providing Genex Power with the Solar 150 Financial Support Deed (Solar 150 Deed)^[12]. The Solar 150 Deed acts as financial support for 100% of the energy produced from the Solar Project in the form of a long term price guarantee arrangement (also known as a 'Power Purchase Agreement' or 'PPA)^[12]. This therefore ensures a floor price is guaranteed for electricity of the Large Generating Certificates (LGC's) produced by the Kidston Solar Farm.

The Australian Renewable Energy Agency (ARENA) has also heavily endorsed the Kidston Renewable Energy Hub through its funding of the projects via their Large-Scale Solar Funding Award Program^[13]. ARENA provided $8.85 million towards the construction costs associated with the 50MW Solar Farm^[13].

Stage Two: 250MW Pumped Storage Hydro (K2-Hydro) & 270MW Solar Farm (K2-Solar)

The 250MW Pumped Storage Hydro Facility is a world first to utilise an abandoned gold mine for a hydro facility^[14] . The Wises and Eldridge pits of the open cut gold mine will act as the upper and lower reservoirs. The project will provide 250MW of energy for 8 hours (2,000MWh), with a ramp up time of 30 seconds, i.e. can release energy into the National Electricity Market in 30 seconds ^[14]. Construction of the Pumped Storage Hydro Facility is expected to commence in the first half of 2019, following financial close of the project.The Northern Australia Infrastructure Facility (NAIF) has endorsed stage two of the hub through the provision of an indicative term sheet for a long-term concessional NAIF debt facility for up to $516 million^[15]. The NAIF funding is subject to an offtake arrangement and grid connection for the energy and dispatch rights of the project^[15]. In December 2018 Genex Power announced that EnergyAustralia has entered into a non-binding term sheet in respect to a long term energy storage services agreement and equity investment in the company's 250MW Kidston Pumped Storage Hydro Project^[16].

Arena has backed the project since its inception through the contribution of $4 million towards feasibility studies into the project in 2015^[17].

The project is co-located with the proposed 270MW Solar Farm which is predicted to generate 783,000MWH/yr, the equivalent to powering 143,000 homes^[18] . The larger Solar Farm is designed to be located adjacent to the already operating 50MW Solar Farm. Construction is expected to commence late 2019 however, the development of K2-Solar is expected to follow the project financing for K2-Hydro.

Stage Three: 150MW Wind Farm (K3-Wind)

In 2018 Genex Power secured an exclusive option to develop a wind project as stage 3 of the Kidston Renewable Energy Hub. The Wind Farm will be located 15km away from the solar and hydro facilities, situated on naturally elevated topography^[19]. The project is still subject to a feasibility study including transmission requirements and capabilities^[20]. The project will connect to the National Electricity Market via the new proposed 275kV transmission line which is being developed alongside the Kidston Stage 2 projects.

Fig. 2. [https://www.genexpower.com.au/uploads/6/6/1/2/6612684/genex_3.0._corporate_presentation__master__print.pdf Corporate Portfolio]

Jemalong Solar Farm (JSP)

In September 2018 Genex Power announced that they entered into a Sale and Purchase Agreement with Vast Solar Pty Ltd for the acquisition of the 50MW Jemalong Solar Project, located near Forbes^[21]. The project is expected to generate 125,600MWh/p.a. Development of the project is expected to commence during 2019.

Pumped Storage Hydro

Further Information: [https://www.energy.gov/eere/water/pumped-storage-hydropower Pumped-Storage Hydropower]

== References ==

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