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Genesis Energy Limited ( (DE:1G6) ) has shared an announcement.
Genesis Energy Limited has acquired the rights to develop a 271MWp solar farm near Rangiriri, Waikato, strategically positioned for optimal grid connection and market access. This acquisition is part of Genesis’s strategy to expand its renewable energy portfolio and aligns with its Gen35 objective of building up to 500MWp of solar capacity. The project will be funded through Genesis’s balance sheet, with potential for future capital recycling, reflecting confidence in long-term value creation while maintaining financial flexibility. The development is expected to enhance the value of Genesis’s hydro generation sites and reduce gas generation, particularly during summer months.
More about Genesis Energy Limited
Genesis Energy Limited is a prominent player in the energy sector, focusing on renewable energy projects. The company is involved in the development and management of solar, wind, and geothermal energy projects, aiming to enhance its renewable energy portfolio and reduce reliance on gas generation.
For detailed information about 1G6 stock, go to TipRanks’ Stock Analysis page.