Australian utility company Stanwell has inked a deal to acquire 50% of the energy output from Genex Power's 258MW Kidston Stage Three wind farm (K3W). This 15-year power purchase agreement establishes Stanwell as the predominant energy offtaker for the North Queensland project, a collaboration between Genex and Japanese utility J-POWER.
The Kidston Stage Three wind farm is an integral part of the broader Kidston Clean Energy Hub, which encompasses solar and pumped hydro capacity. In addition to the power purchase agreement, the parties have executed a Memorandum of Understanding proposing collaboration on facilitating Stanwell's asset maintenance business, SAMCo, to secure the maintenance services contract at the Kidston Clean Energy Hub.
Genex anticipates that K3W will commence operations by December 2026, contributing to the renewable energy landscape in North Queensland. Stanwell CEO Michael O'Rourke highlighted the positive impact of the power purchase agreement on the company's ability to meet the growing demand for renewable energy from its customers.
O'Rourke emphasized the significance of the deal for Queensland and commercial and industrial consumers seeking clean, reliable, and cost-effective energy solutions. He stated that Stanwell's commitment to transforming its portfolio aligns with Queensland's renewable energy future, bringing them closer to realizing the renewable energy targets set by the Queensland Government.
