Genex Power Limited (Genex or Company) announced that, further to its announcement of Project Document Contractual Close on 31 March 2021, it has April 28, 2021 issued Notice to Proceed under two key construction contracts to formally commence construction of the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro or Project). This follows the issuance of Notice to Proceed to Powerlink for the 275kV transmission infrastructure works, on 31 March 2021. Genex announced that it has issued Notice to Proceed under the Engineering, Procurement and Construction (EPC) contract with a joint venture of McConnell Dowell Constructors (Aust.) Pty Ltd. and John Holland Group Pty Ltd. (MDJH JV) for the Project. The EPC scope includes dam construction, underground and waterway civil works and the full powerhouse fit-out (including supply and installation of all electromechanical equipment). In addition, Genex has issued Notice to Proceed under the design and construct (D&C) contract with Energy Solutions Pty Ltd. trading as Beon (Beon) for the surface connection assets. The D&C scope includes a new substation at Kidston to connect into the Powerlink transmission line, and new 275kV transmission infrastructure to connect from the substation to the EPC works. The issuance of Notice to Proceed under these two contracts formally commences the construction program for the Project, which is expected to take 3.75 years to complete. Concurrent with commencement of activities under the EPC and D&C contracts, Genex is also ramping up its site activities with the following works: Continuation of refurbishment works for the Oaks Rush accommodation village, which is being utilised as the Project construction camp; Completion of the airstrip upgrades to facilitate fly-in fly-out operations for construction personnel; Continuation of the communications infrastructure upgrades; and Commencement of upgrade works on the fresh water supply line from the Copperfield Dam. With construction now commencing, Genex is looking to formally close-out the financing arrangements, with financial close remaining scheduled to occur in mid-May 2021, following the Extraordinary General Meeting on 29 April 2021.