This week the Queensland Government has announced $147 million in funding for power giant Genex Power. This funding includes $15 million more than the original amount announced back in September 2020.
The multi-million-dollar funding will go towards constructing a new 275-kilovolt single circuit, 185.9-kilometre transmission line from Kidston to Mt Fox and a new substation at Mt Fox.
Construction of the transmission line will create over 500 jobs and once built; Powerlink Queensland will own the infrastructure.
This piece of infrastructure is crucial for connecting the Kidston Pumped Storage Hydro Project to the National Electricity Market, which connects five regions across Australia's east coast.
The transmission line will support connectivity to the NEM to facilitate the creation of a new renewable energy zone in North Queensland.
Renewable energy zones are modern-day power stations that deliver renewable energy to businesses and homes.
Genex Power's CEO, James Harding, commented on the funding by saying: "Genex is delighted to receive confirmation of the Queensland Government's $147 million funding package for this critical transmission infrastructure.
"We would like to thank the Queensland Government for their support and look forward to continuing to work together to deliver this exciting new piece of electricity infrastructure which, together with the pumped hydro project, will deliver over 500 new jobs, contribute to a more stable electricity supply in North Queensland and assist Queensland in moving toward its 50 per cent renewable energy target by 2030," Genex CEO James Harding said.
The new transmission line will support the Kidston Clean Energy Hub development, including the Kidston Stage 3 and State 2 Solar Project.
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