South Australia to offer $8.7mn for pumped hydro storage power plants

In what may prove to be a major leg up for the ongoing pumped hydro energy storage activities across South Australia, the administration of region has promised to allocate funds between USD 500,000 to USD 4.7 million to carry out feasibility studies for the pumped hydel power units at Port Germein, Whyalla, and Port Augusta.

Australia’s energy minister has apparently been quoted stating that these plants will be able to deliver renewable energy at reduced costs with the rise in demand. According to The Guardian, GFG Alliance, that boasts of investments in Whyalla steelworks, is going to be awarded USD 500,000 towards feasibility study worth USD 1.7 million, to be carried out for pumped hydro plants at the mine location of Middleback Ranges.

As per the owner of GFG Alliance, the announcement made by the South Australian government will reduce the power costs and help in the expansion of steel & aluminum industries across the region. Industry analysts claim that the state’s decision to set up large-scale renewable energy storage plants along with the declining solar & wind energy costs will propel the growth of the green energy sector in South Australia.

For the record, USD 4.7 million has been allocated by the state authorities for the pumped hydro energy storage unit at Port Augusta possessing a storage capacity of nearly 230 MW. The construction of the plant may cost nearly USD 410 million.

Apparently, USD 500,000 has also been allotted toward a feasibility study for the 225 MW hydro plant located at Cultana in north Whyalla. Additionally, the state administration has provided grants worth USD 3 million for the feasibility study of the pumped hydro power unit located in north-eastern part of Port Germein. Earlier this month, the government had also declared that it will construct the world’s largest power plant to reduce the electricity bill costs by nearly 30%.

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Dhananjay Punekar

Dhananjay develops content for Market Size Forecasters. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted for a career in writing and now pens d...

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