The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

2GW pumped hydro energy storage project in Queensland, Australia, progresses

The pumped hydro energy storage system will be located at Lake Borumba (above). Image: Queensland Hydro.

Queensland Hydro has launched a public consultation phase for its 2GW Borumba Pumped Hydro Project in Australia.

The pumped hydro energy storage system (PHES) will be located at Lake Borumba, near Imbil, west of the Sunshine Coast, and is targeting first power in 2030.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

It will cost around AUS$14.2 billion (US$9.6 billion) to develop and build. In June 2023, the Queensland government revealed that it would provide AUS$6 billion in funding for the project.

An Expression of Interest (EOI) has now opened, inviting community members to indicate their interest in one of three initiatives. This includes joining the reformed stakeholder reference group, participating in one of the newly established focus groups, or serving on the community benefits panel.

A community benefits framework has also been confirmed for the project. Due to be finalised later this year, the framework includes an initial AUS$5 million funding package to deliver local mountain bike and walking trails.

Queensland Hydro CEO Kieran Cusack said earlier this year community feedback was sought on how to best deliver lasting, positive benefits through its programs and initiatives.

“We care about our communities and stakeholders and want them to have a say in the process to shape our proposed projects,” Cusack said.

“We’ll work closely and transparently with the community to honour the diverse perspectives and local knowledge they bring. We want to be good neighbours, and this means listening to local communities so we can co-design our projects with their input.”

Queensland’s largest PHES

Queensland is set to become home to numerous PHES projects. The state is looking to provide a flexible solution as its grid continues to integrate renewable energy into its mix as coal-fired power plants are withdrawn.

In June 2023, the state’s largest PHES project, the 5GW Pioneer-Burdekin Pumped Hydro Project, which would offer long-duration energy storage (LDES) over a 24-hour discharge duration, awarded key contracts to progress its development.

7 August 2024
12pm (AEST)
Join and energy storage market experts at GridBeyond for a discussion on the evolving landscape for energy storage in Australia’s National Electricity Market, and the challenges faced in optimising the value of battery assets in an evolving market.

Read Next

July 17, 2024
US-headquartered developer Pacific Green Technologies has received planning consent from the South Australian government to develop grid-scale battery energy storage systems on the Limestone Coast of South Australia.
July 17, 2024 Premium speaks to one of the chief architects of the Capacity Investment Scheme (CIS), aimed at breaking down barriers to investment and deployment in Australia’s renewable energy and storage sectors.
July 17, 2024
Sun Cable has obtained its principal environmental approval from the Northern Territory government and NT Environment Protection Authority for its Australia-Asia PowerLink (AAPowerLink) interconnector.
July 16, 2024
Independent power producer (IPP) Atlas Renewable Energy discussed its large-scale BESS projects in Chile, where gigawatts of projects are expected to come online in the next few years.
July 16, 2024
World Bank Group has approved plans to develop Botswana’s first utility-scale battery energy storage system with a capacity of 50MW/200MWh.

Most Popular

Email Newsletter