The joint venture between McConnell Dowell and John Holland (MDJH-JV) has signed an agreement with Genex Power to begin early works on the 250MW Kidston Pumped Storage Hydro project (K2-Hydro) in North Queensland.
K2-Hydro was granted the Development Approval by the Etheridge Shire Council back in September 2018, and the project is now ready to commence early works that will accelerate its development ahead of the projected Financial Close in the first half of 2019.
“Embarking on this early works programme with MDJH-JV is a significant milestone for Genex as work gets underway on our biggest project which has been in planning for a number of years. Genex continues to work closely with Powerlink, the Queensland State Government, NAIF, ARENA, EnergyAustralia and other key stakeholders to finalise the remaining activities ahead of the Financial Close milestone.
“The Kidston Pumped Hydro Project will play a vital role in facilitating and supporting the further penetration of renewable energy in the National Electricity Market,” Genex power CEO James Harding said.
The early works programme undertaken by the MDJH-JV will include hydraulic design and related activity for the hydro turbines - which is the longest lead time component of the project’s construction timeline - which will then be followed by preliminary electrical design and other preparatory activities for the project.
K2-Hydro is set to become the first pumped storage hydro project to utilise an old gold mine - the Kidston Gold Mine. The project will be utilising existing infrastructure at the mine, including the Wises and Eldridge Pits that will act as the upper and lower reservoirs; the water pipeline that will link the Copperfield Dam to Kidston through an existing pumping rights; and the accommodations, solid road access and airstrip that was used by the mine during its operations.
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