Hydro Tasmania has hosted a group of energy and climate change ministers from across the Federal, State and Territory governments at the site of its proposed 750 MW pumped hydro project at Lake Cethana in Northern Tasmania.
Hydro Tasmania CEO, Ian Brooksbank, said the Lake Cethana proposal was one of the most cost-effective long-duration storage projects in the national electricity market.
“When it comes to renewables, Tasmania has been blazing a trail for more than a century and it stands ready to play a leading role in the national transition,” Mr Brooksbank said.
“Cost-effective long-duration storage is the key to achieving the Australian Government’s target of 82 per cent renewable energy in the national electricity market by 2030.
“Tasmania’s proposed pumped hydro project at Lake Cethana is one of the most cost-effective storage developments out there.
“We were delighted to show The Honourable Minister Chris Bowen and his state and territory
colleagues just what Tasmania can offer.”
With high elevation, short distance between upper and lower storages, proximity to transmission and existing hydro infrastructure, Lake Cethana is ideal for pumped hydro and highly cost competitive.
Under the proposed pumped hydro scheme, it will be capable of providing about 20 hours of storage, ten times a typical battery storage system.
Pumped hydro at Lake Cethana, along with the proposed redevelopment of the iconic Tarraleah
hydropower scheme, are the two flagship projects that form the Battery of the Nation initiative.
“Battery of the Nation will deliver local jobs, energy security and economic growth, and will position Tasmania to lead the national transition to renewable energy,” Mr Brooksbank said.
Hydro Tasmania is finalising the preliminary business cases for both projects as it works towards Final Investment Decisions.
Featured image: Hydro Tasmania CEO Ian Brooksbank, Australian Minister for Climate Change and Energy Chris Bowen MP, Hydro Tasmania Chair Richard Bolt and Tasmanian Minister for Energy and Renewables Guy Barnett MP at Lake Cethana. Image credit: Hydro Tasmania.