Quote mentioning GNX as ?? presumably an ASX success - [One ASX renewable energy stock reaps the benefits While this inflationary environment impacts negatively on projects yet to begin construction, those already in operation are reaping some pretty nice benefits – like ASX electricity generation company, Genex Power (ASX:GNX).
GNX has two solar farms in operation – the 50MW Jemalong Solar Project in central NSW, which is fully merchant, and the 50MW Kidston Solar Project, which has been in operation since 2017 under a 20-year power purchase agreement (PPA). With prices up between $200 and $300 per MW hour compared with historical prices of around $50 or $60 per MW hour, GNX managing director James Harding said these increases have gone straight through to the company’s bottom line. “We are lucky, at Jemalong we get the spot price all the time (together with the value of green certificates), while Kidston is under long term offtake, and we get the floor price there – so when prices are really high like they are now, we benefit from the upside.”]
and NO - I do not know what Jessica has been smoking.
GNX Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
