The Federal Government has committed $65 million for the Tarraleah hydropower scheme, as part of its investment in Tasmania’s Battery of the Nation initiative.
Hydro Tasmania Acting Chief Executive Officer, Ian Brooksbank, welcomed the funding, and said that together with investment from Hydro Tasmania, the roughly $123 million project would assess the commercial viability of redeveloping the scheme, and enable upgrade works to commence in coming months that provide flexibility for the scheme’s future.
Mr Brooksbank said the upgrade works will bring a welcome injection of jobs and investment for the Derwent Valley region and Tasmania, which is great news as the state continues its recovery from the impacts of COVID-19.
“The scheme has served Tasmania well for decades, but it is aging and in need of significant investment to ensure its safe and reliable operation well into the future,” Mr Brooksbank said.
“We know that the future market will need renewable energy sources that can respond quickly to changes in demand. This is an opportunity to future-proof the Tarraleah scheme and optimise it for a bigger role in Australia’s clean energy transition.”
The federal funding support will allow Hydro Tasmania to progress the activity needed to reach a Final Investment Decision on progressing the redevelopment project.
It also gives scope to get on with upgrade works that will position the scheme well for the future. The upgrade works will maintain the ability to progress redevelopment, subject to a positive investment decision.
The works also help manage risk on aging assets so they can continue to operate safely and reliably.
