Join our daily newsletter At The Bell to receive exclusive market insights
GenusPlus Group Ltd (ASX:GNP) has been awarded a Western Power contract to design and build the required infrastructure to upgrade Western Australia’s electricity network, in a project which focuses on unlocking renewable energy from the Wheatbelt and Mid-West regions.
The $270 million contract – for the Clean Energy Link North Region project – will involve the building of new 330kV and 132kV terminals in the existing network footprint to significantly increase transmission capacity and enable new energy sources to come online, in addition to existing line conversions and reinforcement work to significantly improve the flow of renewable energy to and from the area.
Genus will also design and construct two terminals at Regans Ford and Eneabba and an associated line. It will also augment the existing 330kV Northern and Eneabba terminals.
Work is set to begin this month; scheduled completion is dated to mid-2027.
Managing director David Riches said the contract was a consolidation of Genus’ already strong relationship with Western Power.
“Genus has worked with Western Power for many years, and is very pleased to have secured this project and to be able to continue working with Western Power on a project that is very important to Western Australia as it moves towards a clean energy future,” he said.
“Genus is looking forward to continuing to develop its longstanding relationship with
Western Power as a key delivery partner.”
Genus shares rose on the news, and at 14:05 AEDT, they were trading at $2.66 – a rise of 6.40% since market open.
Join the discussion. See what HotCopper users are saying about GenusPlus Group and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
