Genex Power Limited today formally commenced construction of its flagship Kidston Pumped Storage Hydro Project (K2-Hydro), with the issuance of Notice to Proceed under two key construction contracts.
Located west of Townsville, K2-Hydro will repurpose the old Kidston gold mine to a 250 MW/2000 MWh pumped hydro power station which will deliver eight hours of energy storage.
The project is expected to create 500 construction jobs and to deliver affordable, reliable electricity for north Queensland over the next 50 years.
Genex CEO James Harding said Notice to Proceed was issued to the McConnell Dowell – John Holland joint venture (MDJH JV) for the construction of the pumped storage hydro plant and dam infrastructure, and to Beon for the ancillary surface connection works at Kidston.
He said the issuance of Notice to Proceed under these two contracts formally commences the construction program for the project, which is expected to take less than four years to complete.
“With activity steadily ramping up at site, Genex is now firmly focussed on the delivery of this Project through the construction phase, with commissioning and operations to commence in late 2024. We look forward to updating the market as these activities progress over the coming months,” he concluded.