Genex (ASX:GNX) share price frozen on hydro project fund raising

The Genex Power Ltd (ASX: GNX) share price isn’t going anywhere after the renewable power generation company announced the final capital raising puzzle piece to fund its Kidston Pumped Storage Hydro Project (K2-Hydro).

The Genex share price is currently in a trading halt, frozen at 27.5 cents a share. The company has outperformed the S&P/ASX 200 Index (ASX: XJO) over the last year, with a staggering 175% share price gain.

Further funds enable full ownership

Genex announced today that it had secured the final funding needed for the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro). As a result, the full $777 million of financing required…