- CIMIC (CIM) subsidiary UGL is set to connect the Kidston Clean Energy Hub to the national electricity grid under a contract that earn up to $150 million in revenue
- The subsidiary will be responsible for the design, construction and installation of a high voltage transmission line from Kidston to Mt Fox in Queensland
- Kidston Clean Energy Hub is owned by fellow ASX-lister Genex Power (GNX) and is the company’s flagship renewable energy hub
- Early works and mobilisation for UGL’s client, Powerlink, are said to be underway
- Cimic Group shares are trading 2.78 per cent higher at $21.43
CIMIC (CIM) subsidiary UGL is set to connect the Kidston Clean Energy Hub to the national electricity grid under a contract that could bring home up to $150 million in revenue.
The subsidiary will be responsible for the design, construction and installation of a high voltage transmission line from Kidston to Mt Fox in Queensland and a new 275-kilovolt switching station located at Mt Fox.
Kidston Clean Energy Hub is owned by fellow ASX-lister Genex Power (GNX) and is the company’s flagship renewable energy portfolio comprised of a group of solar and hydro projects.
According CIMIC, UGL is performing early works and mobilisation for the contract with its client, Powerlink, in support of the Kidston Clean Energy Hub in Queensland.
UGL, formerly known as United Group, is an engineering company owned by the ASX200 lister.
UGL Managing Director Doug Moss said he was delighted to be building its relationship with Powerlink.
“UGL has an exciting pipeline of work in delivering high voltage power projects around Australia, providing communities with a safe and reliable power supply in some of our most remote regions,” he commented.
Cimic Group shares are trading 2.78 per cent higher at $21.43 at 2:20 pm AEST.