Genex Power

What Genex Power does

Genex Power Pty Ltd is an Australian renewable energy generation and storage developer-operator headquartered in Sydney with offices in Brisbane and project sites across Queensland and New South Wales. The company's portfolio integrates utility-scale solar photovoltaic farms, grid-scale battery energy storage systems (BESS), and pumped storage hydro, anchored by the Kidston Clean Energy Hub in Far North Queensland — a co-located multi-technology site that includes the 50MW Kidston Solar Project, the 250MW/2,000MWh Kidston Pumped Storage Hydro Project (K2-Hydro, the first new pumped hydro in Australia's NEM in nearly 40 years), and the 270MW Kidston Hybrid Project (K3-Hybrid). Other operating assets include the 50MW Jemalong Solar Project in NSW and the 50MW/100MWh Bouldercombe Battery Project in Rockhampton, with a development pipeline of more than 2.25GW including the multi-stage Bulli Creek Clean Energy Park (up to 2.5GW) and K3-Hybrid (120MW wind plus 150MW/600MWh BESS).

Genex's underlying technology combines First Solar thin-film PV with NEXTracker single-axis tracking and SMA inverters for solar; Tesla Megapack 2.0 hardware with Tesla Autobidder software for BESS dispatch; and for pumped hydro, a novel architecture that repurposes the abandoned Wises and Eldridge gold mine pits as upper and lower reservoirs, equipped with ANDRITZ 125MW reversible turbines enabling sub-30-second ramp and 8-hour discharge (2,000MWh) — long-duration capabilities that exceed typical grid-scale battery storage.

The company monetises its assets through a mix of wholesale electricity sales into Australia's National Electricity Market (NEM) at spot prices, large-scale generation certificate (LGC) sales, FCAS and ancillary services revenue from battery and pumped hydro assets, and long-term contracted revenue via 15-30 year PPAs and BESS agreements with offtakers including EnergyAustralia (30-year dispatch rights on K2-Hydro), Stanwell Corporation (15-year PPA for 550MW of Bulli Creek Stage 1), and the Queensland Government (20-year Revenue Support Deed for Kidston Solar). Project capital is sourced from a blend of equity, government infrastructure debt (NAIF A$610M, CEFC A$3M), grants (ARENA A$47M for K2-Hydro plus A$8.9M for Kidston Solar), and corporate balance sheet funding from parent J-Power (Electric Power Development Co., Ltd), which acquired 100% of Genex for approximately A$380M in July 2024 and delisted the company from the ASX after nine years as a listed entity.

Name

Genex Power

Legal name

Genex Power Pty Ltd

Website

https://genexpower.com.au

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Genex Power is an Australian renewable energy developer-operator owned by J-Power that runs utility-scale solar, battery storage, and pumped hydro assets (including the 250MW Kidston Pumped Storage Hydro Project, the first new pumped hydro in Australia's NEM in 40 years) for sale into the NEM and to enterprise offtakers under long-term PPAs.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation and Storage

NAICS

Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911), Engines & Turbines (3510)

akta.pro primary industry

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE)

akta.pro secondary industries

Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

Keywords

• Pumped hydro storage
• Renewable energy generation
• Solar farm development
• Battery energy storage
• Grid-scale storage

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Energy Generation Sales: Sale of electricity generated from solar farms and pumped hydro into the National Electricity Market (NEM) at spot prices, supplemented by Large-Scale Generation Certificate (LGC) revenue.
2. Long-term Power Purchase Agreements: Contracted revenue from 15-30 year PPAs with offtakers including Stanwell (550MW from Bulli Creek) and Queensland Government Revenue Support Deed for Kidston Solar.
3. Battery Storage Services: Arbitrage and FCAS (Frequency Control Ancillary Services) revenue from battery storage operations, bidding into all eight FCAS markets with capability for future inertia and fast frequency response markets.
4. Grid Services and Storage Agreements: Energy Storage Services Agreement with EnergyAustralia for Kidston Pumped Hydro (up to 30 years), providing dispatch rights and capacity payments.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Genex Power develops, owns, and operates large-scale renewable energy generation and storage infrastructure in Australia. Its portfolio includes grid-connected solar photovoltaic farms, a 250MW pumped storage hydro facility (the first developed in Australia in over 40 years), and utility-scale battery energy storage systems. Revenue is generated by selling electricity into the National Electricity Market, providing long-duration storage and grid services under long-term power purchase agreements and ancillary services contracts with energy retailers, utilities, and government entities.

Product overview

Genex Power Pty Ltd is an Australian renewable energy generation and storage company operating a portfolio of projects across Queensland and NSW. The company's portfolio consists of: Kidston Clean Energy Hub (flagship project combining 50MW Kidston Solar, 250MW/2,000MWh Kidston Pumped Storage Hydro under construction, and 270MW Kidston Hybrid Project in development), Bouldercombe Battery Project (50MW/100MWh operational BESS), Jemalong Solar Project (50MW operating solar farm), and Bulli Creek Clean Energy Project (up to 2.5GW multi-stage solar and BESS development). As of July 2024, Genex is a wholly owned subsidiary of J-POWER (Electric Power Development Co., Ltd).

Differentiator

Problem solved

Functional benefit

Brands

• Kidston Clean Energy Hub: Australia's first large-scale, co-located renewable energy project integrating solar, pumped hydro, wind, and battery energy storage (BESS) at the Kidston site in North Queensland.
• K2-Hydro
• BBP (Bouldercombe Battery Project)
• Bulli Creek Clean Energy Park
• K3-Hybrid (Kidston Hybrid Project)

Products and services

• Kidston Solar Project (KS1) 50MW operating solar farm located in Kidston, Far-North Queensland, featuring 540,000 First Solar thin-film panels with NEXTracker single-axis tracking. Operational since November 2017, generating up to 145,000MWh annually and powering approximately 26,000 homes. Sales revenue is backed by a 20-year Revenue Support Deed with the Queensland Government.
• Jemalong Solar Project 50MW operating solar farm located near Forbes in central NSW, generating up to 128,700MWh annually and powering approximately 23,000 homes. O&M contractor is Beon Energy Solutions.
• Kidston Pumped Storage Hydro Project (K2-Hydro) 250MW/2,000MWh pumped storage hydro flagship project, the first pumped hydro project developed in Australia in over 40 years. Repurposes two abandoned gold mine pits (Wises and Eldridge) as upper and lower reservoirs, eliminating the need for conventional dam construction. Provides 8-hour discharge duration with sub-30-second ramp-up for frequency response. Maintained and operated by EnergyAustralia under an Energy Storage Services Agreement for up to 30 years. Total funded construction cost of A$777M with financial close in April 2021.
• Bouldercombe Battery Project (BBP) 50MW/100MWh battery energy storage system (BESS) located in Rockhampton, Queensland, built using Tesla Megapack 2.0 hardware and operated under Tesla Autobidder software. Bids into all eight FCAS markets under an 8-year offtake agreement with Tesla providing a revenue floor guarantee in exchange for operating the plant and sharing upside.
• Kidston Hybrid Project (K3-Hybrid) Reconfigured from the original 258MW Kidston Wind Project, now combining 120MW of wind generation with 150MW/600MWh BESS (renamed the 270MW Kidston Hybrid Project). CPP Nacap JV is the principal contractor for balance of plant and construction delivery. Connects to Powerlink Queensland's 275kV transmission line.
• Bulli Creek Clean Energy Project Multi-stage renewable energy development with planned capacity of up to 2.5GW comprising solar PV generation and battery energy storage, located approximately 45km southwest of Millmerran, Queensland. Stage 1 (BC1) proposed as 300MW solar and 425MW/1,700MWh BESS hybrid facility. PCL Construction appointed EPC contractor for Stage 1. The 15-year PPA with Stanwell purchases 550MW capacity from Bulli Creek Stage 1 Solar Project (775MW facility). Arup appointed as owners' engineer.

Quantifiable outcome

• 350,000+ homes powered by clean energy from portfolio
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

16 partnerships are on record, tiered core and major.

• EnergyAustraliacoreStrategic or Co-development Partner · 18 November 2025EnergyAustralia holds dispatch rights for the Kidston Pumped Hydro facility through a Binding Energy Storage Services Agreement for up to 30 years, with an option to acquire the project. Provides long-duration storage capacity for EnergyAustralia's renewable portfolio.
• Stanwell CorporationcoreStrategic or Co-development Partner · 17 September 202415-year PPA with Stanwell for 550MW of capacity from Bulli Creek Stage 1 Solar Project. Additionally, SAMCo (Stanwell Asset Maintenance Company) has a 5-year O&M contract for Kidston Solar Farm. Partnership supports Stanwell's renewable energy transformation.
• McConnell Dowell & John Holland JVcoreImplementation/ SI/ Consulting PartnerJoint venture between McConnell Dowell and John Holland engaged as EPC Contractor for the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro). Responsible for construction of this complex pumped hydro facility.
• TeslacoreTechnology or IntegrationTesla supplies Megapack 2.0 hardware for Bouldercombe Battery Project and provides Autobidder software for algorithmic dispatch optimization. Tesla operates the battery with revenue floor guarantee under 8-year offtake agreement.
• PCL ConstructioncoreImplementation/ SI/ Consulting PartnerCanada-based PCL Construction is the EPC contractor for Bulli Creek Stage 1 Solar Project (775MW), managing engineering, procurement and construction for what will be one of the largest solar farms in the Southern Hemisphere.
• Powerlink QueenslandcoreStrategic or Co-development PartnerPowerlink is delivering the 275kV transmission line to Kidston Clean Energy Hub and enabling grid connection for K3-Hybrid project. Connection agreement established for Bouldercombe Battery at adjacent substation.
• CPP Nacap Joint VenturemajorImplementation/ SI/ Consulting PartnerCPP Nacap JV is Genex's chosen principal contractor for the Kidston Hybrid Project (K3-Hybrid), responsible for balance of plant and construction delivery.
• SolarigmajorImplementation/ SI/ Consulting PartnerSolarig provides operations and maintenance services for Kidston Solar Project (50MW) and previously for Jemalong Solar Project, ensuring optimal performance of solar assets.
• ANDRITZcoreTechnology or IntegrationANDRITZ is the key equipment supplier for Kidston Pumped Hydro, providing the 125MW reversible turbines that enable generation and pumping operations.
• EnturamajorImplementation/ SI/ Consulting PartnerEntura serves as engineering consultant for Kidston Pumped Storage Hydro Project, providing technical expertise for this innovative pumped hydro development.
• ArupmajorImplementation/ SI/ Consulting PartnerLondon-headquartered Arup appointed as owners' engineer for Bulli Creek Stage 1 Solar Project, providing independent technical oversight during development.
• Beon Energy SolutionsmajorImplementation/ SI/ Consulting PartnerBeon Energy Solutions provides EPC and O&M services for Jemalong Solar Project (50MW) in central west NSW, supporting project delivery and ongoing operations.
• First SolarmajorTechnology or IntegrationFirst Solar Inc. supplies solar panels for Kidston Solar Project (540,000 panels), providing thin-film photovoltaic technology for the 50MW facility.
• NEXTrackermajorTechnology or IntegrationNEXTracker provides single-axis tracking system for Kidston Solar Project, enabling optimized solar panel orientation throughout the day for enhanced energy capture.
• SMAmajorTechnology or IntegrationSMA supplies inverters for Kidston Solar Project, converting DC power from solar panels to AC for grid connection.
• UGLmajorImplementation/ SI/ Consulting PartnerUGL Ltd served as EPC Contractor for Kidston Solar Project, successfully delivering the 50MW facility on-time and on-budget with construction completed in 2017.

Scale indicators14 records

Recent moves5 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC0p4njH5MsRCfphzaZ2XLCA
• LinkedInlinkedin.com/company/10858225

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Genex Power