Australia's Genex Power rises on completing due diligence for hydro project

Genex Pharmaceutical

19/02/2021 02:51

** Shares of Genex Power  GNX.AX  rise as much as 8.2% to
A$0.265, their biggest intraday pct gain since Jan 29
    ** Power generation co says final due diligence for 250MW
Kidston Pumped Storage Hydro Project in north Queensland is 
largely completed and agreed by key stakeholders  urn:newsml:reuters.com:*:nGLF6hJJkg
    ** Says contractual close expected late in Q1 of current
year; financial close and commencement of construction to occur
in early Q2 
    ** Also secures the signing of an extension to sunset date
of energy storage services deal with EnergyAustralia Pty
    ** Stock had risen 4.3% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))