Kidston Stage 2 secures NAIF funding

Genex Power’s Kidston Stage 2 Pumped Storage Hydro Project (K2-Hydro) is a step closer with the Northern Australia Infrastructure Facility’s (NAIF) decision to offer finance for the project of up to $610 million.

Energy Magazine is reporting Since Genex first announced the involvement of NAIF in the Company’s K2-Hydro, Genex has worked closely with the NAIF management team to complete the due diligence required for the NAIF Board to consider an Investment Proposal.

The financial close process for K2-Hydro is now advancing rapidly, with the Genex Board confident that it will be in a position to reach financial close in the third quarter of this year.

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