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GNX, GENEX POWER LIMITED
blacksheep
post Posted: Jul 11 2019, 02:53 PM
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NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY BOARD APPROVES
INVESTMENT DECISION FOR UP TO $610 MILLION OF CONCESSIONAL DEBT
FUNDING FOR THE KIDSTON PUMPED STORAGE HYDRO PROJECT


QUOTE
Genex Power Limited (ASX: GNX) (Genex or Company) is pleased to announce that the Northern
Australia Infrastructure Facility (NAIF) Board has made an Investment Decision to offer finance to
Genex’s Kidston Stage 2 Pumped Storage Hydro Project (K2-Hydro) through the provision of a longterm concessional NAIF debt facility for up to $610 million (Debt Facility).
Since Genex first announced the involvement of NAIF in the Company’s K2-Hydro, Genex has
worked closely with the NAIF management team to complete the due diligence required for the NAIF
Board to consider an Investment Proposal (refer ASX announcement 20 June 2018).

The financial close process for K2-Hydro is advancing rapidly with the Genex Board confident that
it will be in a position to reach financial close in the third quarter of this year following the recent
succession of significant positive announcements for this project including:

➢ Signing of a term sheet with EnergyAustralia for a long-term energy storage services
agreement and equity investment (refer ASX announcement 20 December 2018);
➢ Commencement of an early works programme surrounding the hydraulic design and related
activity for the hydro turbines (refer ASX announcement 15 February 2019);
➢ Receipt of final environment approvals (refer ASX announcement 8 April 2019);
➢ A$25M share subscription agreement and technical services agreement with J-Power (refer
ASX announcement 6 June 2019), for which this NAIF Investment Decision is a key condition
precedent; and
➢ AEMO GPS Approval (refer ASX announcement 14 June 2019)

NAIF’s Investment Decision is subject to the responsible Federal Minister’s legislative consideration
period. NAIF’s Financial assistance to the Project is also subject to a number of conditions including
the finalisation of the Queensland Government’s consideration of the project and its agreement for
the approved funds to be advanced

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Jun 25 2019, 09:38 AM
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In a halt... Capital Raising

- and as soon as the S/P nudged higher.

This one should be priced off the 10-year!




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 6 2019, 08:48 AM
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In Reply To: nipper's post @ Feb 15 2019, 05:25 PM

QUOTE
Genex (GNX) is pleased to announce that it has signed a Share Subscription Agreement with Electric Power Development Co Ltd trading as J-POWER.

The Agreement provides for a conditional investment of up to A$25m by way of a subscription for ordinary shares in Genex, with the proceeds to be principally applied towards Genex’s equity funding component for the construction of the Kidston Pumped Storage Hydro Project
- payment in kind



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 15 2019, 05:25 PM
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In Reply To: nipper's post @ Feb 15 2019, 03:04 PM

QUOTE
.... works to keep the massive project moving while it awaits financial close.
... actually, I don't find that encouraging. Weakened bargaining power.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 15 2019, 03:04 PM
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QUOTE
Work is set to begin on the pumped hydro storage component of Genex Power’s ground-breaking Renewable Energy Hub at Kidston, in North Queensland, as the company works to keep the massive project moving while it awaits financial close.

Genex said on Friday that it had entered into an agreement with McConnell Dowell and John Holland, to immediately commence an early works program on the 250MW K2-project, which will supply up to eight hours storage, using the existing pits of a former gold mine.

Under the agreement, the MDJH joint venture will start work on an agreed program of works to accelerate the development of the pumped hydro project, ahead of financial close, which is said to be on track for the first half of 2019.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Oct 4 2018, 04:42 PM
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In Reply To: blacksheep's post @ Sep 21 2018, 12:46 PM

FWIW - Morgans rates GNX as Initiation of coverage with Add

Morgans initiates coverage of Genex Power with an Add rating and $0.36 target. The company is a renewable and energy storage business, developer of the Kidston solar and pumped hydro projects.

The business is set to take advantage of volatility in Queensland wholesale electricity prices. Morgans notes pumped hydro is significantly cheaper than batteries and, unlike gas turbines, will be able to start fast enough to cover spikes in the electricity price.

Beyond the initial contract the broker envisages prices increasing significantly, but warns it will be several years into the future before investors can realise the benefits.



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Sep 21 2018, 12:46 PM
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DEVELOPMENT APPROVAL FOR KIDSTON PUMPED STORAGE HYDRO PROJECT
QUOTE
Genex Power Limited (ASX: GNX) (Genex or Company) is pleased to advise that it has received
Development Approval (DA) from the Etheridge Shire Council (ESC) in respect of the Company’s
250MW Pumped Storage Hydro Project (K2-Hydro). The DA process involved referrals to several
State Government entities, including the Department of Natural Resources, Mines and Energy
(DNRME) for the approval of the Wises Dam structure, the Department of State Development,
Manufacturing, Infrastructure and Planning, and Ergon Energy. The DA represents a significant
milestone for the project which remains on track to commence construction in 2019.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: JSB  
 
nipper
post Posted: Sep 9 2018, 02:38 PM
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QUOTE
... so far NAIF has made six loans totalling $807 million, including a conditional $506 million loan to the second stage of Genex's $1 billion Kidston project in North Queensland, which will use an old goldmine for a pumped-hydro project, supported by wind and solar projects.

Technically, the NAIF does not count the Genex funding as officially allocated money because it is still subject to certain conditions, including the company securing a power purchase agreement for the energy it will produce. If the $516 million for the Genex project is removed, the NAIF has allocated only $291 million to five projects. (Other funding commitments include $98 million for the development of technology innovation centre in Townsville, $19.5 million for a road upgrade and $16.8 million for a port upgrade in WA and $7 million for a barramundi farm in the Northern Territory.)....

Genex executive director Simon Kidston said the company was getting closer to signing an off-take agreement for the pumped hydro project which is one of the conditions for NAIF funding along with finalising an agreement with Powerlink to move the electricity onto the grid. He said the NAIF loan was still crucial for developing the project.

Genex also announced on Friday it had purchased the 50 megawatt Jemalong solar project near Forbes in central-west NSW which is part of its longer term strategy to expand its portfolio of assets and diversity into other regions within the National Electricity Market.
https://www.afr.com/news/politics/northern-...20180907-h152ur






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 18 2018, 07:02 AM
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Big distances impair Queensland's renewables future
QUOTE
AEMO’s group manager of national planning Craig Price said Queensland’s strength in renewable energy resources was its weakness, because they (solar, wind and hydro power) were not close to population or industry centres.

“They have really good resources, but they tend to be in much weaker parts of the (national electricity) grid,” Mr Price said. "And they are going to cost more to connect them up,” he said. “North Queensland has really good solar and wind and pumped hydro potential, but it is a long way away from any of the major load.”

The Australian National University last year reported Queensland had more than 1700 “potential hydro-energy sites”.

Three of the sites are seen as viable, according to Genex chief executive James Harding. Genex plans to operate Queensland’s second pumped hydro plant – a joint solar and pumped-hydro plant at the old Kidston gold mine, north-west of Townsville – by 2020....
https://amp-brisbanetimes-com-au.cdn.amppro...717-p4zs10.html



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Jun 20 2018, 12:05 PM
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In Reply To: nipper's post @ Jun 20 2018, 10:05 AM

It's been almost a year for NAIF to get to this stage. Still a few hurdles to overcome, but good news. This will be the largest NAIF deal to date, if it gets done - previously they've only backed a couple of small projects - 2 if I recall worth around $24 mil - whilst sitting on $5bil fund since 2015, when it was established by Joe Hockey. In February this year the NAIF CEO told a parliamentary committee NAIF was on track to meet it's target to fund 3 - 5 projects worth up to $2 bil by June 30, 2018. They've got another near enough to $1.5 bil to allocate in the next 10 days smile.gif
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: gumboots  JSB  
 
 


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