The Queensland Government has provided an AUD147 million (US$112.8 million) financing package to Genex Power for its planned 250 MW K2 pumped storage hydroelectric project.
The latest government financing will be used for the construction of a new 275 kV single circuit transmission line that will connect the pumped hydro project to the National Electricity Market (NEM). The transmission link will be built, owned, and operated by Powerlink.
The Kidston project will be built approximately 270km north-west of Townsville. in Queensland, Australia. The facility acts like a giant battery, pumping water uphill when energy is abundant and releasing it to create power at night or on a windless day. The project consists of the Upper reservoir: Wises Pit (52ha) and Lower reservoir: Eldridge Pit (54ha). The project features two 125MW reversible turbines.
