STTCOMP GNX, FA LONG
Market Cap: $126m
Shares: 511m (+128m proposed to be issued to J-Power)
SP: $0.26
Genex is an operator of a 50mw Solar farm in Kidston QLD. They are also about to go live with a 50mw solar power station in Jemalong NSW.
Under development are the Bouldercombe Battery Project (50MW/75MWh), 250MW Kidston Pumped Hydro Project , 270MW Kidston Solar project, and 150MW Kidston Wind project. The Pumped hydro project is in final stages of contracting, and could be signed imminently, with early works commencing.
Concessional debt funding is provided by the NAIF and CEFC
CFS currently holds 8.86% (pre dilution), Zhefu Hydropower holds 7.16%. J-Power will be the largest shareholder once all the definitive agreements are signed.
Disclosure: Long term shareholder
