The Kidston Solar Farm in North Queensland has cleared all key financial and contractual requirements and is now under construction.
Project developer, Genex Power, has finalised all necessary funding requirements for the engineering, construction and operation of the plant.
It is the fifth project to reach financial close through the Australian Renewable Energy Agency’s (ARENA) large-scale solar competitive round
ARENA CEO, Ivor Frischknecht, said the project could help deliver on ARENA’s vision for a smooth transition to a renewable energy future by increasing the reliability and security of renewable energy.
“Kidston holds the tantalising proposition of being Australia’s first large-scale solar project capable of delivering renewable energy into the grid around the clock,” Mr Frischknecht said.
“The plant could potentially power an adjacent 250MW pumped hydro storage plant Genex is developing with ARENA support. This would allow renewable energy to be stored through the day and delivered when needed most.”
With construction now underway, Genex will turn to securing financial arrangements for its 250MW Kidston Pumped Storage Hydro Project, as well as completing a technical feasibility study for a second 270MW phase of the Kidston Solar Project.