Pumped Hydro Recoverable Grants
Pumped hydro energy storage has the ability to provide large amounts of long-duration storage to keep the lights on even when the sun isn’t shining and the wind isn’t blowing. These projects are a vital part of NSW’s future energy system.
The $50 million Pumped Hydro Recoverable Grants Program (the Program) is a key action in the NSW Government’s Electricity Infrastructure Roadmap (the Roadmap). The Program will provide recoverable grants to project developers to assist with the cost of early stage, detailed feasibility studies for pumped hydro projects.
Grants have now been awarded to six projects, with a combined capacity of almost 2.56 gigawatts. The projects have received a total of $51.84 million to support pre-investment activities, establish project feasibility and develop a strategic business case and make competitive bids for Long-Term Energy Services Agreements for long-duration storage under the Electricity Infrastructure Investment Safeguard.
|Stage of development
|Lake Lyell PHES
|Oven Mountain PHES
|OMPS Pty Ltd
|Shoalhaven Hydro Expansion
|Central West Pumped Hydro
|ATCO Australia Pumped Hydro
|Muswellbrook Pumped Hydro
|Muswellbrook Pumped Hydro (AGL and Idemitsu joint venture)
|Phoenix Pumped Hydro
Additional funding for the Program
To ensure NSW has a strong pipeline of pumped hydro projects, the NSW Government will commit a further $24 million to the Pumped Hydro Recoverable Grants Program. This funding is expected to expand the pipeline of pumped hydro projects by up to 1.4 gigawatts.
The NSW Government will also invest $23.5 million to undertake feasibility studies to develop pumped hydro projects on key WaterNSW dams throughout the State.
For further information about the Program, including the Program Guidelines, the application process, FAQs and to subscribe for email updates, please visit the Pumped Hydro Grants webpage. For additional information on the potential of pumped hydro in NSW, please refer to the Pumped Hydro Roadmap.