Genex Power is set to begin building a 250 MW pumped hydro facility next to an existing 50 MW solar farm later this month, as it has secured the financing it needs to move forward.
Genex Power claims it is making rapid progress on the construction of the first 50 MW phase of a PV array at a former gold mine in northeastern Australia, with preparations already under way for the second 270 MW stage, as well as a related 250 MW pumped hydro installation.
The Sydney-based developer has obtained A$100 million ($76.8 million) in funding from Clean Energy Finance Corp. (CEFC) and Societe Generale.
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