I second your comments here Jez - I work in the energy market providing analysis and advice for companies like Genex on projects just like this. The bigger/complex the project, the more moving parts, and the more chances of things being delayed. One stakeholder misses a deadline, which results in the next stakeholder missing theirs, and it just kind of snowballs.
That said, I certainly don't see KPH dead in the water, not by a long shot. Genex have sunk plenty of money into researching and developing this idea for years, seeking technical and commercial advice from a number of consultancies. The energy market fundamentals have only continue to stack up since project inception. Queensland is at a critical juncture in its pivot to renewable energy, and pumped hydro and batteries are the key component to reaching the 50% QRET by 2030. With the right mix of technology, Queensland will be the utility-scale solar powerhouse of the NEM.
However renewable developers are already pulling back investment in the Queensland market considerably because of negative prices and surging rooftop PV - these are excellent indicators for pumped hydro and batteries. If anything, I would like to see Genex move immediately onto another mid-level storage project after KPH and Como, either a 4hr battery or similar!
It's tough waiting it out and seeing your investment revert, but stick it out and we'll see KPH get off the ground - the energy transition in Queensland can't keep momentum without it.
