GenusPlus Group Says TasNetworks Confirms Final Investment Decision for Construction of Tasmania Project

MT Newswires Live05-08

GenusPlus Group (ASX:GNP) said that the TasNetworks confirmed the final investment decision for the construction phase of the first stage of North West Transmission Developments in Tasmania, according to a Friday Australian bourse filing.

The project financing requirements include debt funding of up to AU$1.2 billion from Clean Energy Finance and equity funding secured from the Tasmanian Government.

GenusPlus expects the construction phase to start in the September quarter, per the filing.

The issuing of the notice to proceed is subject to conditions, including the satisfaction of Tasmanian Planning Commission's permit conditions and the resolution of permit proceedings before the Tasmanian Civil and Administrative Tribunal, the filing said.

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