GNX
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Company News
Genex Power’s Bulli Creek solar project on hold as Fortescue fails to meet purchase agreement conditions
Genex Power (ASX: GNX) has confirmed that Australian resources giant Fortescue (ASX: FMG) is yet to satisfy the conditions precedent for one of Queensland’s largest renewable energy projects. Fortescue had initially signed a 25-year solar power purchase agreement (PPA) with Genex in October 2023 for the Bulli Creek Solar and Battery Project (BCP). The BCP […]
Japan’s J-Power launches $380m takeover bid for Australian renewable energy firm Genex Power
Japanese renewable energy specialist Electric Power Development (J-Power) has unveiled a $380 million takeover offer for Australia’s Genex Power (ASX: GNX). The non-binding, indicative and conditional proposal from J-Power is aimed at acquiring all of the ordinary shares on issue in Genex that it and its associates do not already own. The takeover is being […]
Renewable energy loses investor appeal as governments impose price caps and deal collapses occur
The attraction of investing in companies exposed to renewable energy has been dealt a double blow as governments impose price caps to help customers, and renewable energy deals fall over. The most obvious example of these unexpected changes in an industry hailed as a key to energy transition is the collapse of a takeover bid […]
Making money from the transition to lower carbon emissions
The drive towards zero carbon emissions has its fans and its opponents but political issues aside, there is little doubt that there is some serious money to be made – and lost. The speed in which that can happen has just been shown in the dramatic fall in the price of coal miners and oil […]
Genex Power inks energy storage deal with EnergyAustralia at Kidston hydro plant
Genex Power (ASX: GNX) has inked an energy storage services deal with one of Australia’s largest energy companies, EnergyAustralia, for its 250-megawatt Kidston (K2) hydro project in Queensland. The binding agreement covers 30 years, with an initial term of 10 years and two options at EnergyAustralia’s election to extend for a further 10 years each. […]
Genex Power collars $610m debt facility from NAIF to fund Kidston stage two hydro project
Genex Power (ASX: GNX) has finally collared the majority of funding needed to develop its Kidston stage two pumped storage hydro project in far north Queensland, with Northern Australia Infrastructure Facility’s (NAIF) board approving a $610 million debt facility. The debt facility follows J-Power agreeing to subscribe for up to $25 million worth of Genex […]
Genex Power signs energy storage deal with EnergyAustralia over Kidston hydro project
Electricity company Genex Power (ASX: GNX) has partnered with EnergyAustralia on a long-term energy storage services agreement and equity investment for Genex’s planned 250-megawatt Kidston pumped storage hydro project. The project is the second stage of a renewables energy hub being constructed by Genex in far-north Queensland and considered by the state’s government to be […]
