Solar power plant
The Kidston Solar Project involves the development of a 270MW solar farm on the site of the historical Kidston Gold Mine, located approximately 270km north-west of Townsville in Northern Queensland, Australia.
The project is being executed by Genex Power in two phases. Phase one will deliver an installed capacity of 50MW, while phase two will expand the total capacity to 270MW.
The ground-breaking for the first phase was held in February 2017 and was completed in November 2017.
Phase one is estimated to generate 145GWh of renewable energy a year, which will be sufficient to power 26,484 Australian homes and offset approximately 120,000t of CO2 emissions per annum.
Genex Power secured the development approval from the Etheridge Shire Council for the second phase of the Kidston solar project in April 2018. The second phase of the Kidston solar project is expected to begin operations by late 2018.
The abandoned Kidston gold mine site has been preferred for the project as it is one of the highest solar radiation zones in Australia. The site also offers accessibility to Townsville and Cairns and is located in close proximity to an existing substation and transmission line.
The solar farm’s development will minimise the existing leaching effects of the tailings storage facility.
The project is co-located with the 450MW Kidston hydro-pumped storage power generation project.
Genex Power signed a long-term, fixed-price, 20-year power purchase agreement with the Queensland government for supply of power generated from the solar farm in September 2016.
The financial closure for the 50MW phase one was achieved in December 2016.
The Kidston solar farm will be installed with First Solar’s 4v3 Modules (S4-Modules) of advanced thin film series. The functionality of the S4-Modules has been proven to deliver a high level of performance worldwide. The modules will be ideal to suit the hot and humid climates at the Kidston site.
A new transmission line will be built during the second phase of the project. The existing substation and transmission line at the site will connect the solar farm with the Queensland region of the National Electricity Market (NEM).
CIMIC Group company UGL was awarded a contract by Genex Power to deliver engineering, procurement and construction (EPC), and operation and maintenance (O&M) services for the first phase of the Kidston solar project in June 2016.
Entura was selected by Genex Power to provide owner’s engineer (OE) services for the second phase of the Kidston project in September 2018. The scope of the contract involves detailed engineering, design verification, along with construction and commissioning support during project implementation.
Genex Power preferred First Solar as the supplier of photovoltaic modules for the solar power plant in September 2016.
AECOM Australia is the owner’s engineer and technical adviser, while Ergon Energy Corporation is responsible for distribution of electricity from the plant.
Baker & McKenzie is the legal counsellor and PWC is acting as tax-structuring adviser for Genex Power.
Genex Power appointed Societe Generale as the lead debt financing arranger and financial adviser for the project.
The Australian Renewable Energy Agency (ARENA) is the funding partner for the $94m (A$126m) project.
Genex Power also secured an initial grant of A$8.85m ($6.6m) from ARENA for the construction of the Kidston project. The company further received credit approval for a debt facility of up to $82m in December 2016.
Genex Power received debt finance of A$54m ($41m) from the Clean Energy Finance Corporation for phase one of Kidston project in February 2017.
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