The Australian Renewable Energy Agency (ARENA) has approved a AUD40m (US$27m) financing for the development of the first pumped-storage hydropower project in South Australia. The project will have a capacity of at least 200 MW and will reach financial close by 30 June 2020.
Four proposed large-scale hydropower projects in development in this state have sought funding from the ARENA. The ARENA will now undertake further assessment to select a single funding recipient by late 2019. The Agency will work with the Underwriting New Generation Investments (UNGI) programme launched by the Australian Government, which has shortlisted 12 projects (including 6 pumped-storage hydropower projects, of which 3 are located in South Australia), and the South Australian Government’s Grid Scale Storage Fund (GSSF) to support the development of pumped-storage hydropower projects in South Australia.
South Australia bets on large-scale pumped-storage hydropower projects to improve grid reliability and security, while boosting renewable power generation.
Searching for proven generation costs?
Then CAPEX & LCOE is the database you need. The module provides exclusive insights on both Capital Expenditure and Levelised Cost of Electricity.
Make informed decisions in terms of which technologies to invest in and where. In just a few clicks, access unique, premium data on both thermal and renewable power generation costs by technology and by country. Put our detailed, reliable information to use and benchmark your project.