Tokyo-based Japanese power producer J-Power announced on August 3, 2020 that it had concluded a new share subscription agreement with Genex Power, a renewable energy development company in Sidney City, Australia. Genex Power currently operates a 50MW solar firm, Kidston Stage 1 (KS1), and is working on four other renewable energy projects with a total additional capacity of 720MW in Australia.

J-Power’s decision to invest in Genex Power is aligned with its business strategy to expand its renewable energy investments in both Japan and abroad. Australia has abundant renewable energy resources and the share of renewable energy in Australia is expected to increase in the future. The need for services and energy storage technologies is also expected to increase to accommodate higher levels of intermittent renewable energy sources.

J-Power has also signed a Technical Services Agreement with Genex Power to provide technical advice for the construction and operation of the Kidston Pumped Storage Hydro Project (K2-Hydro), located in northern Queensland. J-power will leverage the technical expertise that it has gained from Genex’s experience with pumped storage hydro power plant projects in Japan. Once completed, K2-Hydro is expected to have a capacity of 250MW.[1] [2]

[1] https://www.jpower.co.jp/news_release/2020/08/news200803.html

[2] https://www.jpower.co.jp/english/news_release/pdf/news200803.pdf