Australia’s first pumped hydro energy storage system to be built in 37 years, Genex Power’s Kidston Clean Energy Hub, is now set for construction, following the financial close of its Kidston Stage 2 project.
The green light for the AUD 777 million ($602.6 million) pumped hydro project (including transmission infrastructure), is a boon to Queensland’s renewable energy ambitions. The 250 MW/2,000 MWh (baseload) hub at the former Kidston Gold Mine will provide the equivalent of eight hours of energy storage and support the introduction of new renewable energy generation in the state.
The Australian Renewable Energy Agency (ARENA) is chipping in AUD 47 million on top of the AUD 9 million it has already spent on feasibility and development of the project, and AUD 8.9 million for the original 50 MW Kidston Solar Project back in 2016. Some of the financing comes from the Northern Australia Infrastructure Facility (NAIF), with AUD 610 million. And as pv magazine has previously reported, EnergyAustralia will operate the 250 MW pumped storage asset for up to 30 years.
The project requires a 187 km transmission line to connect the North Queensland Hub to the National Electricity Market (NEM). The Queensland government has vowed to support this infrastructure.
Popular content
ARENA CEO Darren Miller said that the Kidston project “will supply dispatchable, renewable energy to the grid when and where it is needed and provide a blueprint for how we store excess solar and wind energy at scale.” Miller described the project as a significant milestone and pointed to the significant role installations like Kidston have in progressing Australia’s energy transition.
“Storage solutions such as pumped hydro and large scale batteries are a key part in providing back up power and grid stability as highlighted in the Australian government’s first Low Emissions Technology Statement,” he said.
The project will be completed by 2024 and will generate 500 jobs, including 20 permanent positions.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.