FinTechFunding

Genex Power: Secures agreement with Powerlink for battery energy storage system

  • Genex Power (GNX) has secured an agreement with Powerlink Queensland to access land adjacent to its Bouldercombe substation in Queensland
  • Genex is aiming to develop a large-scale battery energy storage system project with an initial capacity of 50 to 75 megawatts per hour
  • Significantly, this project expected to be the first of its kind in Queensland
  • Now that the agreement has signed, Genex is aiming for the project to be operational by the first half of 2022
  • Gaining land access will depend on whether a connection and access agreement secured between Genex and Powerlink
  • Company shares are trading flat at 19.5 cents
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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