Australia's GenPlus Group rises on nearly $1 billion AusNet contract

Genusplus

12/12/2025 04:51

** Shares of GenusPlus Group GNP.AX rise as much as 14.1% to A$6.80, their highest level since November 13

** Stock set for its best session since August 28, if gains hold

** The power and communication infra and services provider says it has been awarded contract by AusNet as part of joint venture (JV) with ACCIONA

** Co says A$1.6 billion ($1.07 billion) contract is for constructing the Western Renewables Link in Victoria

** The Western Renewables Link is a proposed 190-km transmission line to deliver high voltage from Bulgana to Sydenham terminal station in North-West Melbourne

** As of last close, stock up 127.5% YTD

($1 = 1.5013 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))