Brief: Genex Power Enters Series Of Agreements With Electric Power Development And One Of Subsidiaries

Genex Power

30/06/2023 02:35

June 30 (Reuters) - Genex Power Ltd  GNX.AX :
    * ENTERED INTO A SERIES OF AGREEMENTS WITH ELECTRIC POWER
DEVELOPMENT CO., LTD AND ONE OF ITS SUBSIDIARIES,
    * DEAL FOR TOTAL FUNDING PACKAGE OF A$44.5 MILLION
    * FUNDS WILL BE APPLIED TO REPLENISHMENT OF CONTINGENCY FOR
250MW/2,000MWH KIDSTON PUMPED STORAGE HYDRO PROJECT
    * ENTERED INTO A JOINT DEVELOPMENT AGREEMENT WITH J-POWER
FOR
BULLI CREEK SOLAR AND BATTERY PROJECT
    * UNDER AGREEMENT J-POWER WILL EARN A 50% INTEREST IN BCP BY
WAY
OF PROVIDING UPFRONT ACQUISITION FUNDING OF A$2.5 MILLION
    * ENTERED INTO A CORPORATE LOAN FACILITY AGREEMENT WITH
J-POWER
FOR A LOAN FACILITY OF A$35 MILLION
    * J-POWER WILL PROVIDE FURTHER A$6 MILLION IN UPFRONT
FUNDING FOR
THIRD PARTY DEVELOPMENT COSTS

Source text for Eikon:  ID:nASX3zZ92d 
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