Why the Genex (ASX:GNX) share price is up 5% today // The Motley Fool Australia

The Genex Power Ltd (ASX: GNX) share price is up over 5.5% today and currently trading at 28 cents.

Genex Power is focused on developing a portfolio of renewable energy generation and storage projects across Australia.

The company’s flagship Kidston Clean Energy Hub, located in north Queensland, will integrate large-scale solar generation with pumped storage hydro.

Genex share price pumps after company locks in funding

The Genex share price bumped up after the company confirmed that the Queensland Government is going to provide a $147 million funding package. 

The funding will go toward the construction of a new 275kV single circuit, 185.9km transmission line from Kidston to Mt Fox, and a new substation at Mt Fox.

The new…