Australia's Genex Power gains on supply deal with Fortescue

Genex Power

09/10/2023 01:31

** Shares of Genex Power  GNX.AX  up 10.3% at A$0.16, set
for best day since Aug 23 if gains hold
    ** Energy and storage co says iron ore co Fortescue  FMG.AX 
will purchase power from the Bulli Creek Solar and Battery
Project under a 25-year agreement signed with unit
    ** Says agreement provides for offtake of up to 337.5 MW of
solar energy from the project
    ** GNX stock at its highest level since Sept. 26
    ** Stock up 7.4% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))