Australia's Genex Power rises as unit signs power-purchase agreement

Genex Power

08/12/2023 01:38

** Shares of Genex Power  GNX.AX  rise as much as 2.9% to
A$0.175
    ** Stock posts its biggest intraday gain since Nov. 27, if
current gains hold 
    ** Energy and storage co says unit has entered into 15-year
power purchase agreement with Stanwell Corp Ltd for its Kidston
Stage 3 Wind Project, located in Queensland
    ** Co says  agreement secures the offtake of 50% of the
project's output of wind energy
    ** Stock has risen 25.9% YTD as of last close
    

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))