With the breeze at their backs: Genex signs crucial deal for Kidston wind farm
Genex has stitched up a 10-year deal with Energy Australia to buy 30 per cent of the capacity of its planned Kidston stage three wind farm in north Queensland.
It’s the second deal the two companies have struck after Energy Australia also agreed to an offtake deal for the pumped hydro project at Kidston.
The latest deal for the wind farm offtake was struck at an undisclosed fixed price.
Genex said it was also in talks with other parties about the remaining capacity at the wind farm.
Genex chief executive Craig Francis said the deal represented a significant milestone for the development of the 258MW wind farm. He said it was a material step in mitigating project risk.
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“We are pleased with the partnership with Energy Australia has continued to strengthen with the addition of this offtake agreement, building on the foundations established in 2020 with our 30-year agreement for the Kidston pumped hydro project,” he said.
“This latest commitment by Energy Australia also attests to the strong track record of project delivery demonstrated by the Genex team.”
Energy Australia managing director Mark Collette said the deal with Genex would bring the company a step closer to its goal of having 3 gigawatts of renewable energy committed or in operation by 2030.
