July
- Opinion
- Chanticleer
Takeovers risk turning into money grabs for directors
Special exertion payments are legal, but we would argue they don’t befit a blue-chip company. Fund managers and governance experts also have concerns.
- Anthony Macdonald
Genex to depart ASX after investors back J-Power takeover
Shareholder approval of the deal, worth more than $1 billion including debt, was in little doubt after 19.9 per cent investor Skip Capital revealed it would back it.
- Angela Macdonald-Smith
- Exclusive
- Mergers & acquisitions
Farquhar’s Skip Capital will back J-Power’s takeover of Genex
The Atlassian billionaire’s fund owns 19.9 per cent of the ASX-listed renewable energy group. Its support removes a major roadblock for the Japanese utility.
- Angela Macdonald-Smith
Proxy advisers back J-Power’s Genex bid; eyes on Skip
Sources said ISS and Glass Lewis had both issued positive recommendations, telling their clients to vote in favour of J-Power’s “significant premium” 27.5¢ per share all-cash bid.
- Sarah Thompson, Kanika Sood and Emma Rapaport
April
J-Power’s 27.5c a share bid for Genex now binding
The target board is expected to recommend the bid, subject to obtaining a nod from an independent expert.
- Sarah Thompson, Kanika Sood and Emma Rapaport
March
Fortescue says hydrogen hopes rest on a halving of power prices
Fortescue Energy boss Mark Hutchinson says Australia must get clean power prices down to $US30 a megawatt hour if it wants green hydrogen projects to go ahead.
- Peter Ker
- Opinion
- Chanticleer
One of the world’s hottest themes is giving the ASX a miss
The exchange just hasn’t cracked it as a destination for the next wave of green electricity generators. Genex Power is the latest to be worth more in private hands.
- Anthony Macdonald
J-Power taps MacCap, Minters to Skip-proof Genex Power bid
Selling into J-Power’s bid should get some tongues wagging on the Atlassian co-founder’s ambitions to support energy transition.
- Sarah Thompson, Kanika Sood and Emma Rapaport
October 2023
Fortescue hunting more green energy after signing 25-year supply deal
The mining giant is a step closer to its Gibson Island green ammonia project after committing to a 25-year renewable energy offtake deal with Genex Power.
- Updated
- Brad Thompson
September 2023
Fire at Genex Power battery project in Qld a ‘rare occurrence’
Genex Power chief executive Craig Francis says too early to tell cause of fire at 50-megawatt Bouldercombe battery project near Rockhampton.
- Updated
- Mark Ludlow
August 2023
Green energy’s holy grail takes shape 220 metres underground
A four-hour drive north-west of Townsville, Australia’s best bet for pumped hydro, Genex Power’s $777 million Kidston project, is being drilled 220 metres under an old gold mine.
- Updated
- Mark Ludlow
- Analysis
- Carbon challenge
Pumped hydro is clean and green. It’s also hard and expensive
Malcolm Turnbull in 2017 called pumped hydro a ‘game-changer’ for transforming the grid, but the reality seven years later is different.
- Updated
- Mark Ludlow
April 2023
The nine energy companies investors should target
Many of the largest renewable developers are private, while listed companies may offer indirect access or have to navigate their own transition.
- Colin Packham
Pumped hydro takes time and stamina (which Australia may not have)
Genex Power founder Simon Kidston has backed warnings by the CSIRO that pumped hydro projects are unlikely to be the answer to Australia’s medium-term renewable energy storage requirements.
- Mark Ludlow
February 2023
A green energy revolution? Not in our backyard, says this Qld town
Queensland Premier Annastacia Palaszczuk is banking on two new mega-pumped hydro projects to replace the exit of coal power, but locals are angry about their impact.
- Updated
- Mark Ludlow
December 2022
Scott Farquhar, Stonepeak abandon joint bid for Genex Power
Genex Power shares dropped 19 per cent after Farquhar’s Skip and Stonepeak yanked their joint bid following a water leak at the Kidston power project.
- Updated
- Kanika Sood
- Exclusive
- Carbon challenge
Genex founder’s next project will generate ‘premium’ carbon credits
Permagen will target high emitters such as BHP, Woodside, Santos, Shell and Mitsubishi to help them reach their carbon reduction goals through offsets and credits.
- Mark Ludlow
November 2022
Genex Power’s leak sees deal doubts flood in
If a takeover’s not moving forwards, is it moving backwards?
- Anthony Macdonald, Sarah Thompson and Kanika Sood
October 2022
Genex Power takeover held up by project delays
Genex Power’s quarterly activities report has provided the best guide yet as to why its takeover is taking longer than expected.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
September 2022
Genex Energy locks in suitor at 25c, down to negotiating docs
Genex Energy’s defied the odds to all-but lock suitor Skip Capital and Stonepeak Partners into a 25¢ a share deal, with negotiations down to finalising the scheme implementation deed.
- Anthony Macdonald, Sarah Thompson and Kanika Sood