Genex Power has shortlisted two engineering, procurement and construction (EPC) contractors for the initial 50 MW stage one of its 150 MW Kidston Solar Project.
Once the solar project is completed, it will be the largest solar farm in Australia. The solar project will be co-located next to Genex’s 330 MW Kidston Pumped Storage Project – a development that is believed to be a world first in terms of building and implementing a large-scale integrated renewable energy generator with a pumped storage facility.
The two shortlisted tender proposals will now progress to the next stage of EPC contract negotiations, and were selected out of a total of seven proposals.
Genex has been working closely with AECOM, its feasibility consultants, on the evaluation of the competitive EPC tendering process. It will now engage with both shortlisted parties to further optimise project design and costing, with the aim of delivering a high-quality project both from a capital cost and a yield/energy generation perspective.
Genex Managing Director Michael Addison said the EPC shortlisting is a milestone in the development of the Kidston site as an important energy hub for Queensland.
“The capital costs for the first 50 MW are in line with expectations and confirm the potential for attractive project returns.
“Whilst the flagship pumped storage project remains the company’s main focus, Genex anticipates the Kidston Solar Project is significant in its own right and has the potential to bring near term cash flow and add to shareholders’ value.”