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GNX - Genex Power

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looks like my green(ish ) investment focus will be staying in NZ

oh well a bit of geopolitical diversity might be a good thing
 
Country Lad said:

Atlassian billionaire leads takeover bid for solar and storage developer Genex​

Click to expand...
To me it looks like bottom feeders, trying to pick up green assets, at rock bottom prices just going by the chart I posted up 7 posts earlier, they are offering what the company was trading at for quite a long time and now make an offer when the market has tanked.
I don't hold but to me it isn't a good look, isn't it the same mob who made a low ball offer for AGL, when they were on a down?
Only my two cents worth, I don't hold.
 
After careful consideration of the Indicative Proposal (including consultation with its advisors), the Board of Genex has unanimously concluded that the Indicative Proposal undervalues Genex and, therefore, is not in the best interests of the holders of Genex Shares as a whole. Accordingly, the Board is not prepared to grant the access to due diligence...
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So, where next?

The Board does go on to say it is "willing to engage constructively with the Consortium to explore whether the Consortium can submit a revised proposal that is capable of being recommended..." which sounds to me like ; Make a Higher Offer.

I wonder if there are any other likely bidders? A Super fund? The 19.9% stake is a bit of a block, however, for another offer to emerge.

1659310330213.png
 
going swimmingly. Not.

Genex Power shares dropped 19 per cent after Scott Farquhar’s Skip and Stonepeak pulled their bid after a water leak at the Kidston power project.
 
are they still listed?
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Genex was still on track to commission its 50-megawatt Bouldercombe battery project in Central Queensland next month, despite one of its Tesla Megapacks catching fire on Tuesday night.

With the single-battery unit still smouldering on Wednesday, CEO Craig Francis said it was too early to determine the cause of the fire. But he confirmed it did not damage any of the other 39 Telsa modules at the project, 23 kilometres south of Rockhampton
 
yep still on ASX. ... after the offer, subsequently withdrawn, it has retreated to earlier valuation. And likely to be dull and unexciting until another agglomerator thinks they can do better.
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Screenshot_20230927-204719_CommSec.jpg
 
Smurf1976 said:
It was actually in operation at the time of the incident for the record.

So there's been an incident but it's otherwise built as such.
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in operation but not fully operational?
.
Genex had been completing the commissioning phase of the 50MW/100MWh project that will deliver two hours of storage. It was due to be finished by the end of next month.

Mr Francis said the Bouldercombe project had approvals for operating at full capacity and had completed a 48MW discharge on Tuesday before the fire. It will now require approval from the Australian Energy Market Operator to recommence the commissioning.
 
Dona Ferentes said:
in operation but not fully operational?
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According to power system data first operation occurred on 1 September. That's when energy first flowed to and from the network.

So they've been doing testing and commissioning I assume. Looking at data it looks to be a full charge and discharge each day they've been doing and they were about two thirds the way through the discharge when the incident occurred. :2twocents
 
themarketherald.com.au

Genex Power enters long-term offtake agreement with Stanwell Corp

Genex Power (ASX:GNX), through its subsidiary K3W Project Co, has entered into a 15-year PPA with Stanwell Corporation for the 258MW K3W.
themarketherald.com.au themarketherald.com.au
December 8, 2023
  • Genex Power (ASX:GNX) enters into a 15-year PPA with Stanwell Corporation for the 258MW K3W
  • Stanwell will off-take 50 per cent of K3W’s wind energy output and large-scale generation certificates at a fixed price for 15 years
  • The agreement with Stanwell positions Genex and J-POWER to initiate the debt financing process for K3W
 
A 27.5¢-per-share proposal from Tokyo-based J-Power has landed, and represents a near-50 per cent premium to Genex’s share price on Friday.

J-Power already owns 7.72 per cent of Genex and is a lender to the company, whose biggest project is the $777 million Kidston pumped hydro venture in Queensland. It is also Genex’s 50 per cent partner in the Kidston Stage 3 wind and Bulli Creek solar and battery projects in northern Queensland.
 
On August 1st, 2024, Genex Power Limited (GNX) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between GNX and its shareholders in connection with the acquisition of all the issued capital in GNX by JPGA Partners Pty Ltd, a wholly-owned subsidiary of Electric Power Development Co., Ltd., which it did not already own.
 

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