DOCSLIB.ORG

Published on DNRME Disclosure Log RTI Act 2009

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

From: Energy ODDG [[email protected]] Sent: Tuesday, 6 June 2017 1:11 PM To: DEWS Energy Division CC: SIMSHAUSER Paul; BOWERMAN Melissa; ANGLESEY Jodana Subject: DDG Update June 2017 Attachments: Powering Queensland Plan.pdf; s.73 s.73 s.73 Stabilising electricity prices for Queensland consumers.pdf; Palaszczuk Government powers up an energy and jobs bonanza; s.73 s.73 s.73 Palaszczuk Government powers up an energy and jobs bonanza /storage/emulated/0/.polaris_temp/image1.jpeg Hi all, Powering Queensland Plan DNRME Yesterday the Premier, Treasurer and Minister Bailey announced the $1.16 billion Powering Queensland Plan, which brings together key actions on electricity prices, wholesale markets, renewable energyLog and energy security. This is one of the most significant pieces of work I have been involved in duringsch4p4(on my 6) Personal years information in the Division. 2009 Act Disclosure PublishedRTI s.73 Attached is the overarching Plan along with supporting factsheets. Please familiarise yourself with the plan, as it will shape our forward work plan as a Division. s.73 18-040 File A 1 of 18 s.73 Thanks again to all. s.73 Regards, Benn Barr Deputy Director-General, Energy DNRME Log on 2009 Act Disclosure PublishedRTI 18-040 File A 2 of 18 Department of Energy and Water Supply Powering Queensland Plan Transmission lines,lines, rural QQueenslandue The Queensland Government is investing $1.16 billion to ensure Queenslanders can continue to enjoy an affordable, secure and sustainable supply of electricity. DNRME ACTIONSLog The plan addresses Queensland's on ► Provide electricity price relief by investing $770 million to cover the cost of the Solar Bonus Scheme current and future energy needs ► Return Swanbank E gas-fired power station to service Australia’s energy markets are facing significant challenges relating to electricity ► Direct2009 Stanwell Corporation to undertake strategies to and gas prices, system security, gas place downward pressure on wholesale prices availability, and energy and climate policy. ► Investigate the restructure of Government owned These challenges are being driven by closure generators and the establishment of a ‘CleanCo’ of ageing coal-fired generation and gas Act supply restrictions in southern states, a lack ► Deliver a $386 million Powering North Queensland Plan of investor confidence and an uncertain to strengthen and diversify the north’s energy supply national policy. Disclosureand create a North Queensland clean energy hub ThesePublished challenges are resulting in higher ► Confirm the Government's commitment to a 50 per prices for households and businesses, andRTI if cent renewable energy target by 2030 left unaddressed may threaten energy security and Australia’s ability to meet its ► Facilitate the next wave of up to 400 megawatts of emissions reduction targets. diversified renewable energy, including 100 megawatts of energy storage through a reverse auction The Powering Queensland Plan sets out the Government’s strategy to guide the state ► Improve large-scale renewable project facilitation, through the short-term and long-term planning and network connections challenges occurring in the market. The plan aims to deliver stable energy prices, ensure ► Establish the Queensland Energy Security Taskforce long-term security of electricity supply, ► Implement the Queensland Gas Action Plan and release transition to a cleaner energy sector and over 450 square kilometres of new gas tenure for create new investment and jobs. supply to the Australian market ► Continue to advocate for stable, integrated national climate and energy policies Release 18-040 File A 3 of 18 Our actions in more detail Provide electricity price relief by Return Swanbank E gas-fired investing $770 million to cover the power station to service cost of the Solar Bonus Scheme As a result of extreme heat wave events in The Queensland Government is committed to Queensland and in southern states, there has been stable electricity prices and due in part to the significant volatility and upward pressure on Government's efforts, average residential wholesale electricity prices across the National electricity bills have risen by just 1.2 per cent per Electricity Market. Increasing generation supply will annum over the last two years. DNRMEhelp minimise future volatility and reinforce the state’s energy security over the coming summers. However, the Government understands that recent supply and demand shocks have led to To achieveLog this objective, the Queensland unprecedented increases in wholesale energyon Government has directed Stanwell to return its 385 prices in Queensland and across the National megawatt Swanbank E power station to service in Electricity Market. late 2017 to support the market over the summer period. To ensure continued price stabilisation, the Government has: The Queensland2009 Government does not want to see a repeat of the events of last summer, including ► directed Energy Queensland to remove the record wholesale prices and load shedding in cost of the Solar Bonus Scheme from southern states in February 2017 due to electricity bills over the next three years unprecedented demand on the electricity system – which put industrial customers and jobs at risk. ► reissued a new delegation to the Queensland Act Competition Authority to set 2017–18 prices Wholesale costs make up a larger proportion of in line with the reduced rates. electricity bills for large customers – industrial users This action will limit the billDisclosure increase for a typical and manufacturing plant – meaning they are more regionalPublished household customer in 2017–18 to around exposed to the impacts of market volatility. 3.3 per cent, and place downward pressureRTI on The Queensland Government understands an prices in 2018–19 and 2019–20. The benefits will affordable and secure energy supply is essential for also flow to South East Queensland customers. As a a strong economy, which is why we are acting to result, the bill for a typical household will have protect our industrial customers most affected by increased by just over 1.9 per cent per annum over wholesale market volatility, as well as the jobs they the last three years. provide. The cost of the Solar Bonus Scheme will be By bringing Swanbank E back online for summer transferred to the Government at an estimated 2017-18, the Queensland Government aims to cost of $770 million. support more stable wholesale prices in Queensland, helping to ensure Queensland customers continue to have security of supply even when demand is at its highest, protecting jobs and our economy. Release 18-040 File A 4 of 18 DNRME Log on Koombooloomba Hydro Direct Stanwell Corporation to Investigate2009 the restructure of undertake strategies to place downward Government owned generators and pressure on wholesale prices the establishment of a ‘CleanCo’ As a shareholder of electricity assets, we have the In parallel with implementing other strategies to ability to take steps to counter some of the Actreduce wholesale prices, the Government will impacts being seen in the broader national investigate a restructure of Government owned electricity market that are resulting in higher generators to deliver improved market outcomes. wholesale prices and volatilityDisclosure during peak demand The Government will consider establishing a periods.Published separate ‘CleanCo’ generator to operate To complement the return of SwanbankRTI E, the Queensland’s existing renewable and low- Queensland Government has directed Stanwell to emissions energy generation assets and develop alter its bidding strategies to help put as much new renewable energy projects. downward pressure on wholesale electricity prices The investigation will provide recommendations to as possible. the Queensland Government in the first half of This action is only possible because we have kept 2018. our electricity assets in public hands, enabling the Government to deliver better outcomes for Queensland electricity consumers. Release Establishing a ‘CleanCo’ has the potential to deliver 18-040 File A improved market outcomes5 of 18 Deliver a $386 million Powering North Queensland Plan to strengthen and diversify the north’s energy supply and create a North Queensland clean energy hub Under the Powering North Queensland Plan, the Queensland Government will: ► Commit $150 million to develop strategic transmission infrastructure in North and North-West Queensland to support a clean energy hub, subject to a feasibility study. This will unlock around 2000 megawatts of renewable energy projects and support up to 4600 jobs. Tableland Sugar Mill Cairns Mount Emerald Windnd Farm ► Provide a $100 million equity injection into HighH RoRoad Wind Farm SunWater and reinvestment of dividends to Kidston Forsayth Wind Farm HHydroydro TownsvilleTo deliver improvement works to ensure that the Ross River Solar Farm Kidston Solar Projectct ProProjectject Sun Metals Solar Farm Burdekin Falls Dam continues to meet design DNRME Clare Solar Farm standards. These works, which are estimated Hughenden Sun Farmm Kennedy Energy Park - Solar to support 250 jobs, will support the proposed Log KennedyKKennedy EnergyEnerg Park - Wind hydro-electric power station. on ► Invest a further $100 million to help fund a 50 megawatt hydro-electric power station at the Indicative transmission path in North Queensland dam, subject to completion of a business case. The Burdekin Falls power project will create 200 jobs during construction and generate 2009 enough electricity
Recommended publications
  • Energy 2020 (Report 11: 2020–21)

    Energy 2020 (Report 11: 2020–21)

    FINANCIAL AUDIT REPORT 4 February 2021 Energy 2020 Report 11: 2020–21 • Queensland • • Audit Office Better public services As the independent auditor of the Queensland public sector, including local governments, the Queensland Audit Office: • provides professional audit services, which include our audit opinions on the accuracy and reliability of the financial statements of public sector entities • provides entities with insights on their financial performance, risk, and internal controls; and on the efficiency, effectiveness, and economy of public service delivery • produces reports to parliament on the results of our audit work, and on our insights, advice, and recommendations for improvement • conducts investigations into claims of financial waste and mismanagement raised by elected members, state and local government employees, and the public • shares wider learnings and best practice from our work with state and local government entities, our professional networks, industry, and peers. We conduct all our audits and reports to parliament under the Auditor-General Act 2009 (the Act). Our work complies with the Auditor-General Auditing Standards and the Australian standards relevant to assurance engagements. • Financial audit reports summarise the results of our audits of over 400 state and local government entities. • Performance audit reports cover our evaluation of some, or all, of the entities’ efficiency, effectiveness, and economy in providing public services. Depending on the level of assurance we can provide, these reports may also take the form of: • Audit insights, which provide some evaluation and share our insights or learnings from our audit work across government • Audit briefs, which set out key facts, involve some evaluation, and may include findings and recommendations • Audit overviews, which help clients and stakeholders understand complex issues and subjects.
  • Vol 3 – App. 36 – RACL Environmental Record

    Vol 3 – App. 36 – RACL Environmental Record

    Environmental Impact Statement - VOLUME 3 Appendix 36 RACL Environmental Record Prepared by RATCH Australia Corporation Limited PR100246 / R72894; Volume 3 TRANSFIELD SERVICES Australia & New Zealand HSE HAZARDS DOCUMENT No. TMP-2000-EV-0001 1.0 PURPOSE To outline the process to be followed for identifying and assessing the HSE hazards and relevant HSE legal requirements associated with Transfield Services operations and Supplier/Subcontractor activities, products and services. 2.0 SCOPE This procedure applies to all Transfield Services operations, sites and offices. It applies to the management of HSE hazards that arise in the course of activities at these sites and offices. The exact requirements of this procedure must be implemented as defined. Deviation from this procedure is only permissible where the stated criteria cannot be fulfilled and the deviation is approved by the respective Industry HSE Manager or Operations General Manager. Approvals shall be via e-mail and maintained as a record with all other document approvals, refer TMP-0000- QA-0005 – Document Control Procedure. 2.1 Adoption of a Client’s Hazard Controls, Procedures & Processes A client’s hazard controls, procedures and processes can be considered for adoption under any or all of the following circumstances:- 1. A gap analysis has been undertaken against Transfield Services’ procedures and processes and no inconsistencies have been identified between the client’s and Transfield’s identified procedures and processes. 2. The gap analysis finds that the client’s procedures and processes are equal to or better than those identified by Transfield Services 3. The client’s hazard controls, procedures and processes comply with regional legislative requirements.
  • Powerlink Queensland Revenue Proposal

    Powerlink Queensland Revenue Proposal

    2023-27 POWERLINK QUEENSLAND REVENUE PROPOSAL Appendix 5.02 – PUBLIC 2020 Transmission Annual Planning Report © Copyright Powerlink Queensland 2021 Transmission Annual Planning Report 2020 Transmission Annual Planning Report Please direct Transmission Annual Planning Report (TAPR) enquiries to: Stewart Bell A/Executive General Manager Strategy and Business Development Division Powerlink Queensland Telephone: (07) 3860 2801 Email: [email protected] Disclaimer: While care is taken in the preparation of the information in this report, and it is provided in good faith, Powerlink Queensland accepts no responsibility or liability for any loss or damage that may be incurred by persons acting in reliance on this information or assumptions drawn from it. 2020 TRANSMISSION ANNUAL PLANNING REPORT Table of contents Executive summary __________________________________________________________________________________________________ 7 1. Introduction ________________________________________________________________________________________________ 15 1.1 Introduction ___________________________________________________________________________________________ 16 1.2 Context of the TAPR _________________________________________________________________________________ 16 1.3 Purpose of the TAPR _________________________________________________________________________________ 17 1.4 Role of Powerlink Queensland _______________________________________________________________________ 17 1.5 Meeting the challenges of a transitioning energy system ___________________________________________
  • Stanwell Corporation Limited's Assets

    Stanwell Corporation Limited's Assets

    The Energy Efficiency Opportunities program – experience from industry September 2011 Overview • Stanwell Corporation Limited • Electricity sector in Australia • Energy Efficiency Opportunities Act (EEO) – Overview and intend of legislation – EEO Framework – EEO versus Energy Audit/Energy Management System – EEO extension to the generation sector • EEO alignment with industry needs Stanwell Corporation Limited Stanwell Corporation Limited’s assets Stanwell Power Station 1,400 MW Tarong Power Station 1,400 MW Tarong North Power Station 443 MW Collinsville Power Station 195MW Swanbank E 385MW Northern Hydros and Wivenhoe Small 183 MW Hydro/Peaking Plant (Mackay Gas Turbine) Total 4,006 MW Electricity sector in Australia Businesses: 57 Revenue: $20.9bn Profit: $3.8bn Annual growth: 7.4% Wages: $1.0bn The Energy Efficiency Opportunities Act covers electricity generation sector – 01 July 2011 Overview of the EEO Act • Targets industrial energy efficiency • Coverage • Assess, identify and report • Program cycles • Objectives EEO Assessment Framework •Leadership •People •Information, data and analysis •Opportunity identification and evaluation •Decision making •Communicating outcomes How can EEO add value to companies? • Challenges systems and assumptions • Triple Bottom Line improvement • Reduces energy use and greenhouse gas emissions • Increases internal communication • Empowers in-house personnel • Board visibility • DRET 2010 report - Identified opportunities save pa – 141.9PJ energy use (2.5% Australia’s total) – 11.2million tonnes emissions (2% Australia’s totals) – $1.2billion EEO - alignment with industry needs • Early consultation with industry • Leverages off existing business activities • Provides extensive support material, skills and guidance • Information exchange • Promotion – case studies • Interaction – Listen, understand and act • Ideas for improvement thank you Gabriele Sartori +61 437 711 871 [email protected].
  • 2014-15 Annual Report

    2014-15 Annual Report

    ANNUAL REPORT 2014/15 DIVERSIFIED ENERGY ABOUT ABOUT THIS REPORT STANWELL This report provides an overview of the major initiatives Stanwell is a diversified energy business. and achievements of Stanwell Corporation Limited We own coal, gas and water assets, which we (Stanwell) as well as the business’ financial and use to generate electricity; we sell electricity non-financial performance for the 12 months ended directly to business customers; and we trade 30 June 2015. gas, coal and electricity products. Each year, we document the nature and scope of our strategies, objectives and actions in our Statement of With a generating capacity of more than 4,000 megawatts (MW), Stanwell is the largest Corporate Intent. The Statement of Corporate Intent electricity generator in Queensland. We have the represents our performance agreement with our capacity to supply approximately 45 per cent of shareholding Ministers. Our performance against our the State’s peak electricity requirements through 2014/15 Statement of Corporate Intent is summarised our coal, gas and hydro generation assets. on pages 3 to 19. We are a proud generator of environmentally- Electronic versions of this and previous years’ reports responsible energy. Through our portfolio of hydro are available online at www.stanwell.com or from power stations, we generate more than 150 MW Stanwell’s Stakeholder Engagement team on of clean energy. We also operate two of Australia’s 1800 300 351. most efficient coal-fired power stations: the supercritical 443 MW Tarong North Power Station and the sub-critical 1,460 MW Stanwell Power Station. We have undertaken a number of initiatives to optimise the efficiency of our coal-fired plant and reduce emissions.
  • Queensland State Budget 2014-15

    Queensland State Budget 2014-15

    State Budget 2014-15 State Budget 2014-15 Capital Statement Budget Paper No.3 Budget Paper Capital Statement Budget Paper No.3 State Budget 2014-15 State Budget 2014–15 Capital Statement Budget Paper No.3 www.budget.qld.gov.au Great state. Great opportunity. 2014–15 State Budget Papers 1. Budget Speech 2. Budget Strategy and Outlook 3. Capital Statement 4. Budget Measures 5. Service Delivery Statements Appropriation Bills Concessions Statement The suite of Budget Papers is similar to that published in 2013-14. The Budget Papers are available online at www.budget.qld.gov.au © Crown copyright All rights reserved Queensland Government 2014 Excerpts from this publication may be reproduced, with appropriate acknowledgement, as permitted under the Copyright Act. Capital Statement Budget Paper No.3 ISSN 1445-4890 (Print) ISSN 1445-4904 (Online) State Budget 2014–15 Capital Statement Budget Paper No.3 www.budget.qld.gov.au STATE BUDGET 2014-15 CAPITAL STATEMENT Budget Paper No. 3 TABLE OF CONTENTS 1. Overview 1 Introduction ................................................................................... 2 Capital Purchases ......................................................................... 2 Capital Grants ............................................................................... 7 2. State Capital Program - Planning and Priorities ..................... 10 Introduction ................................................................................. 10 Capital Planning .........................................................................
  • For Personal Use Only Use Personal For

    For Personal Use Only Use Personal For

    Level 6, 28 O’Connell Street Sydney NSW 2000 GPO Box 4626, Sydney NSW 2001 t. + 61 2 9048 8850 e. [email protected] w. www.genexpower.com.au 5 June 2017 ASX Announcement GENEX WELCOMES QLD STATE GOVERNMENT ANNOUNCEMENT OF STRATEGIC TRANSMISSION INFRASTRUCTURE FOR NORTH QUEENSLAND Genex Power Limited (ASX: GNX) (Genex or Company) welcomes the announcement from the Hon. Annastacia Palasczcuk, Queensland State Premier, in relation to the development of transmission infrastructure in North Queensland to unlock up to 2000MW of renewable projects in the region. As part of the announcement, the Queensland Government has stated that it will commit $150m towards developing a transmission line which will allow the 250MW Kidston Pumped Storage Hydro Project and the 270MW Kidston Solar Project (Stage Two) to connect directly into the national grid. This is a significant milestone for Genex as it secures a route to market for the renewable energy generated at Kidston. Genex will work with the government to ensure the development of the transmission assets fits in with the overall development of the Kidston Energy Hub. The media release states in part: “…The clean energy hub would connect the 75MW wind farm at Forsayth being developed by Infigen, the 520MW Kidston Hydro and Solar projects being developed by Genex and the Kennedy Energy Park, a combination of wind and solar generation with a capacity of 1200MW near Hughenden or other projects in the area.” Responding to the media release, Genex’s Executive Director Simon Kidston, who was present at the announcement by the Premier said: “The announcement of the feasibility study represents a very significant milestone for Genex.
  • Queensland Major Projects Pipeline 2019 Queensland Major Projects Pipeline

    Queensland Major Projects Pipeline 2019 Queensland Major Projects Pipeline

    2019 Queensland Major Projects Pipeline 2019 2019 Queensland Major Projects Pipeline Queensland Major Projects A JOINT INITIATIVE $M Total Pipeline 39,800,000,000 Annual Ave 7,960,000,000 Weekly Ave 153,000,000 Daily Ave 21,860,000 Hourly Ave 910,833 AT A GLANCE Major Projects Pipeline readon Unfunded split $41.3 billion total (over 5 years) Credibly Under Under Unlikely Prospective proposed Announced procurement construction* 37 39 15 36 15 52 projects valued at projects valued at projects valued at projects valued at projects valued at projects valued at $3.13bn $6.61bn $4.03bn $10.14bn $6.66bn $10.77bn Unfunded $13.77 billion Funded $27.57 billion *Under construction or completed in 2018/19 Total Pipeline Major Project Scale of Major Value Activity Recurring Projects Jobs Expenditure $8.3b per year The funded pipeline will support $6.5b 11,900 workers $41.3b North Queensland each year on average $23m per day $12.4b Fully-funding the pipeline Funding will support an extra 6.8b Central split Various Queensland 5,000 workers each year on average $23.4b $15.6b $2.2m Public Projects $41.3b Total South East A JOINT INITIATIVE $17.9b Queensland $159m per Private Projects working per week hour $M Total Pipeline 39,800,000,000 Annual Ave 7,960,000,000 Weekly Ave 153,000,000 Daily Ave 21,860,000 Hourly Ave 910,833 Major Projects Pipeline – Breakdown Unfunded split $41.3 billion total (over 5 years) Credibly Under Under Unlikely Prospective proposed Announced procurement construction* 37 39 15 36 15 52 projects valued at projects valued at projects
  • Powerlink Queensland

    Powerlink Queensland

    Powerlink Queensland Transmission Annual Planning Report 2016 Please direct Transmission Annual Planning Report enquiries to: Stewart Bell Group Manager Strategy and Planning Investment and Planning Division Powerlink Queensland Telephone: (07) 3860 2374 Email: [email protected] Disclaimer: While care is taken in the preparation of the information in this report, and it is provided in good faith, Powerlink Queensland accepts no responsibility or liability for any loss or damage that may be incurred by persons acting in reliance on this information or assumptions drawn from it. Contents Transmission Annual Planning Report 2016 Executive Summary _________________________________________________________________________________________________ 7 1. Introduction _________________________________________________________ 13 1.1 Introduction ________________________________________________________________________________ 14 1.2 Context of the Transmission Annual Planning Report _______________________________________ 14 1.3 Purpose of the Transmission Annual Planning Report _______________________________________ 15 1.4 Role of Powerlink Queensland ______________________________________________________________ 15 1.5 Overview of approach to asset management _______________________________________________ 16 1.6 Overview of planning responsibilities and processes ________________________________________ 16 1.6.1 Planning criteria and processes _______________________________________________________________ 16 1.6.2 Integrated planning of the
  • Managing System Strength During the Transition to Renewables

    Managing System Strength During the Transition to Renewables

    Managing system strength during the transition to renewables GHD ADVISORY i GHD Report for ARENA - Managing system strength during the transition to renewables Acknowledgement This project received funding from ARENA as part of ARENA's Advancing Renewables Program. Disclaimer The funding for this report was secured from the Australia Renewable Energy Agency (ARENA) by Powerlink Queensland along with its project partners, GHD, Pacific Hydro and Sun Metals. While the comments of the project partners were taken into consideration in the preparation of this report, the final report is independently authored by GHD. GHD disclaims responsibility to any person in connection with this report. GHD also excludes implied warranties and conditions, to the extent legally permissible. The services undertaken by GHD in connection with preparing this report were limited to those specifically detailed in the report and are subject to the scope limitations set out in the report. The opinions, conclusions and any recommendations in this report are based on conditions encountered and information reviewed at the date of preparation of the report. GHD has no responsibility or obligation to update this report to account for events or changes occurring subsequent to the date that the report was prepared. The opinions, conclusions and any recommendations in this report are based on assumptions GHD has made in this report. GHD disclaims liability arising from any of the assumptions being incorrect. GHD has prepared this report on the basis of information provided by various parties, which GHD has not independently verified or checked beyond the agreed scope of work. GHD does not accept liability in connection with such unverified information, including errors and omissions in the report caused by errors or omissions in that information.
  • …The Future of Energy

    …The Future of Energy

    …The future of energy December 2016 Overview of the Offer Offer Details • The issue of approximately 45 million fully paid ordinary shares (“New Shares”) to institutional and sophisticated investors at an Offer Price of $0.22 per New Share (The “Placement”) to raise approximately $9.9 million (before costs of the Placement); • Placement of up to 45.1M New Shares • The Offer Price of $0.22 per New Share represents: • 18.5% discount to the closing share price on 6 December 2016 of $0.27 per share • 24.2% discount to the 5 day Volume Weighted Average Price up to and including 6 December 2016 of $0.29 per share; and • 21.7% discount to the 15 day Volume Weighted Average Price up to and including 6 December 2016 of $0.281 per share. • The Company intends to offer a Share Purchase Plan (“SPP”) to existing shareholders at the Offer Price1 Use of Funds • For the development of the Company’s 50MW Kidston Solar Project • To advance development of the Kidston Pumped Storage Hydro Project • General working capital purposes Other • New Shares issued pursuant to the Placement will rank equally with Genex existing ordinary shares • Morgans Corporate Limited and Canaccord Genuity (Australia) Limited are Joint Lead Managers to the Placement 1. Subject to ASX Listing Rule 7.2. 2 Sources & Uses of Funds Uses (A$m) Sources (A$m) Kidston Solar Capex 118.0 ARENA Grant Funding 8.9 Interest During Construction 4.2 Placement 9.9 Debt Service Reserve Account 2.5 Project Finance Debt1 110.0 Hydro Development & Working Capital 10.8 Current Cash2 6.7 Total 135.5 Total 135.5 1 Credit approval for up to $110m of senior project finance debt, subject to final documentation, debt terms and prevailing interest rates and exchange rates at the time of financial close.
  • Genex Power COMPANY SNAPSHOT Solar Project Taking Shape

    Genex Power COMPANY SNAPSHOT Solar Project Taking Shape

    │ │ Australia Equity research 21 September, 2016 FOR AUSTRALIAN DISTRIBUTION ONLY, NOT FOR INTERNATIONAL CLIENTS. Genex Power COMPANY SNAPSHOT Solar project taking shape Reuters/Bloomberg: GNX.AX / GNX AU . The award of grant funding by ARENA was an important step forward by Genex Market cap: US$25.7m Power (GNX) in the development of its Kidston solar project. A$34.2m . With the backing of a long-term Queensland Government revenue contract, our Current price: A$0.19 stand-alone modelling of the solar project generates an equity IRR of around 24% Average daily turnover: US$0.04m pa. A$0.05m . Solar project equity funding requirements may be modest if a project equity stake Current shares o/s 180.3m is sold to a third-party investor. Free float: 67.0% . GNX is targeting financial close on the solar project in November 2016, with first Nathan Lead operations in Q4 2017. T (61) 7 3334 4548 . Completion of the feasibility study for its pumped storage project is imminent. First E [email protected] production from this project is targeted for 2019. Award of ARENA grant money triggers Qld Government PPA GNX has been awarded $8.85m in grant funding from the Federal Government's ARENA large-scale solar program for its 50MW Kidston solar project. Importantly, the award of the grant triggered award of a fixed-price 20-year power purchase agreement DISCLAIMER: from the Queensland Government under its Solar 150 program (includes both electricity Morgans Financial Limited (Morgans) does not and Large Scale Generation Certificates (LGC) produced by the solar project).