GENEX POWER LIMITED - Corporate Spotlight

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AS STAGE 3 OF THE KIDSTON RENEWABLE ENERGY HUB GENEX SECURES EXCLUSIVE OPTION TO DEVELOP NEW WIND PROJECT

ASX Announcement 5 April 2018

• Genex secures land option to develop wind farm up to 150MW as Stage 3 of the Kidston Renewable Energy Hub 
• Genex to expand development pipeline portfolio at Kidston 

Genex Power Limited (ASX: GNX) (Genex or Company) is pleased to announce the signing of a binding heads of agreement with local landholders with the exclusive option for Genex to develop a new wind farm project (K3-Wind or the Project) comprising Stage 3 of the Company’s Kidston Renewable Energy Hub in North Queensland.

The Company believes that the Project will benefit from naturally elevated topography, along an escarpment of approximately 21km in length. Genex estimates that the Project area has the potential to be developed into a wind farm up to 150MW. Subject to completion of a feasibility study including transmission requirements and capabilities, it is envisaged that the Project will connect into the National Electricity Market (NEM) via the proposed new 275kV transmission line at Kidston to be developed as part of the Kidston Stage 2 projects.

The K3-Wind Project represents Genex’s fourth project in its development pipeline, with the Renewable Energy Hub now potentially comprising:

The proposed K3-Wind Project could not only provide Genex with significant additional generation capacity for dispatch into the NEM, but in combination with the existing Stage 1 solar and planned Stage 2 solar and hydro projects, provide inversely correlated generation which could enable the dispatch of firm clean renewable electricity 24 hours a day, 7 days a week. A projected generation profile from the Kidston Renewable Energy Hub incorporating K3-Wind, is provided in the chart below.

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GENEX SECURES DEVELOPMENT APPROVAL FOR KIDSTON STAGE 2 SOLAR 

AND MOVES TOWARDS FINANCIAL CLOSE 

ASX Announcement 3 April 2018 

• Genex secures Development Approval for Kidston Stage 2 Solar 
• Contract negotiations with EPC contractors including EPC pricing well advanced 
• Financial close on track for 2018

Genex Power Limited (ASX: GNX) (Genex or Company) is pleased to provide shareholders with an update in relation to the development of the Company’s Kidston Stage 2 (K2) projects, comprising the Pumped Storage Hydro (K2-Hydro) project and the Stage 2 Solar (K2-Solar) project, at the Kidston Renewable Energy Hub in North Queensland.

K2-Solar Development Approval 

Genex is pleased to advise that it has received Development Approval (DA) from the Etheridge Shire Council in respect of the K2-Solar project. The DA is for a maximum of 270MW but Genex has the potential to build K2-Solar in stages to match energy offtake and energy transfer capabilities. This represents a significant milestone for the K2 projects. As with KS1, K2-Solar will benefit from being located within the highest solar radiation zone in Australia.

Early Contractor Involvement (ECI) process 

Genex continues to advance the ECI process toward agreeing full fixed price Engineering, Procurement and Construction (EPC) wrap contracts with UGL for K2-Solar and with McConnell Dowell/John Holland Joint Venture (JV) for K2-Hydro. EPC contracts are expected to be finalised by the end of June.

As part of the ECI process for K2-Hydro, the JV has selected ANDRITZ, an international tier-one supplier and global leader in hydraulic power generation, as the preferred electromechanical equipment supplier (including the reversible Francis pump-turbines). The JV, together with ANDRITZ, has continued to optimise the design for K2-Hydro as the EPC contracts are finalised, with a selection of 3D images of the optimised design detailed below

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