Good to hear you're still in it Dej. I believe it was actually you who suggested GNX to me so thank you! Now lets get the financial close for KH1!
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It's behind a paywall but the Townsville Bulletin reports that the QLD state government approved the A$132m funding for the transmission line for the Kidston Renewable Energy Hub.
N.B. Actually ABC news reported it as well https://www.abc.net.au/news/2019-09-...tling/11467992
Joint statement between Genex and QLD State Government is out https://www.asx.com.au/asxpdf/201909...y6jg6d23z2.pdf
While we are still waiting on the official financial close announcements I rest easy knowing Energy Australia is looking for a Project Manager on Seek for the Kidston Pumped Hydro Project https://www.seek.com.au/job/40017209...4-897a230a1473
Interesting post on HC regarding inverter issues, apparently the solar field has been off line a number of times, I dont believe this has been released to market. Seems UGL are going to earn their margin resolving this issue. Hopefully this is settled quickly and stays away from the courts.
bad bad bad
Hopefully it comes through in 2020 for you silu
Kidston Pumped Storage Hydro - Project Update 2 pages 141.4KB
- As part of its final approval processes, which were targeting a final investment decision in CY 2019, EA has today advised Genex that it will not be in a position to reach a positive investment decision on the basis of the long term energy agreement structure as outlined in the Term Sheet. In light of this development, Genex wishes to advise that it no longer anticipates that it will reach financial close on the Project in CY 2019.
How big of an issue is it? Just a delay or chance it gets canned?
Thinking chin up silu,
We have to wait a little longer for Energy Australia, sounds like negotiations broke down. I would love to know the reasons, usually its money. It could be a good sign our little company is negotiating hard. Seems there has been no market leak, share price has been strong recently.
This project is in high demand, I wouldnt be surprised for the politicians to get involved. They may open their wallets even more.
Looking to add a few more over the next little while, I see this as a delay, it happens all the time in my industry. Hopefully this is resolved in the first quarter next year and not the last.
Its a pitty, it was tracking so well.