New projects |
The power of pumped storage
New pumped storage developments are on the cards, with calls for increased investment in this vital energy storage solution
THE POTENTIAL FOR NEW pumped storage development throughout the world is vast. According to a study by Australia National University, over 600,000 potential sites exist globally with the potential to develop off-river pumped storage hydropower. Recently, it appears that governments have been recognising the need for this long duration energy storage technology, and some increased investments have been made in new pumped storage projects. In late September, an ambitious plan to build the world’s largest pumped storage hydropower project in terms of capacity was announced by Queensland Premier Annastacia Palaszczuk. The proposed Pioneer- Burdekin project in the north of Queensland would provide 5GW of installed capacity and 24-hour storage, bringing flexibility and security to the state grid, and contributing significantly to the phasing out of coal. The project forms part of a wider AUD$62 billion
energy plan designed to meet the state government’s targets to reach 70% renewable energy by 2032 and 80% by 2035. When unveiling the plan, Palaszczuk said that it would support the creation of 100,000 jobs by 2040.
Below: Tunnel boring machine (TBM) Florence continues excavating the Snowy 2.0 headrace tunnel at Tantangara following successful reinforcement works. Pictured are the steel ribs
While the Pioneer-Burdekin project is currently in the very early planning stages, the first stage of its construction could be complete by 2032. “We applaud the Queensland Government for showing the will and determination that is needed to deliver on the clean energy transition, with pumped storage hydropower as the backbone,” said Eddie Rich, Chief Executive of the International Hydropower Association (IHA). “This should be an example to policy-makers around the world that we do not need to seek out new technology to bring the climate crisis under control, nor do we need to fall back on fossil fuels. We can plan and build tomorrow’s clean energy systems with the resources already available to us – and that includes the power of water. “The renewable energy plans unveiled in Queensland this week represent the kind of leadership we need to see replicated across the world if our net zero ambitions are to be achieved. We stand ready to support these efforts in any way we can.” Rick McElhinney, Chief Executive Officer of Sunshine
Hydro, an IHA member, added: “The announcement by the Queensland Premier is incredibly motivating to see. We have vast potential for renewable energy generation in Queensland, and now we are seeing the kind of forward-thinking approach that can enable it to flourish. “This will not only bring major benefits to the people of our state, but it will also provide an example that can be replicated and adapted around the world to advance the clean energy revolution.”
22 | November 2022 |
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IHA has led calls for increased investment in pumped storage hydropower as a climate solution. This announcement came on the exact one year anniversary of the release of the International Forum on Pumped Storage Hydropower report, which explored the policies, financial mechanisms, technologies and sustainability issues required to enhance long duration energy storage. The Forum consisted of 13 governments and
involved more than 80 multilateral banks, research institutes, NGOs, and public and private companies. It was co-hosted by IHA and US Department of Energy. The Forum report stated that: “Without adequate storage, there is a very real risk that electricity grids of the future will not be able to provide reliable power without recourse to high-carbon sources of back-up such as gas turbines”.
Funding boost It’s not just in Queensland where pumped storage
is taking centre stage. Earlier in September it was announced that five planned pumped storage hydropower projects with a combined capacity of approximately 1.75GW in New South Wales, Australia, are set to receive funding of almost $45 million from the government under the NSW Pumped Hydro Recoverable Grants Program. Funding agreements are in place with the five plants
to support pre-investment activities, establish project feasibility and develop a strategic business case. The plants and funding amounts are: 335MW Lake Lyell ($11 million); Oven Mountain ($9.64 million); Shoalhaven Hydro Expansion ($5.31 million); Central West ($9.44 million); and Muswellbrook ($9.45 million). Treasurer and Minister for Energy Matt Kean said the grants will help cover upfront costs and lower investment barriers for the private sector. “If these pumped hydro projects proceed to construction, they are expected to create more than 2,300 jobs and attract $4.4 billion of private investment, which will help grow the economy and support the region,” he said. “NSW has the most ambitious renewable energy policy in the nation, which is needed to replace ageing coal fired power stations and build a clean energy future for NSW.” Kean said pumped storage hydro is a key component of the State’s renewable energy plans, providing clean, reliable power and creating infrastructure jobs right across regional NSW. “This is a win for NSW as these grants will be repaid
to the Government if a project reaches financial close, meaning that these same funds could be used to support even more projects in future,” he added. NSW has a target to build at least 2GW of new long
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