Stanwell has joined forces with a global pumped hydro operator to purchase the Cressbrook Pumped Hydro Energy Storage (PHES) Project.
Located at Lake Cressbrook, 64km south of Stanwell’s Tarong power stations and 45km north-east of Toowoomba, the pumped hydro facility will generate 400MW of clean energy for up to ten hours.
The proposed project is in its early stages of development. The joint venture will progress the project to a final investment decision. As part of the joint venture arrangements, Stanwell will dispatch the energy generated by Cressbrook PHES.
Stanwell said that the project is expected to bring significant benefits to the Toowoomba and Somerset regions, with 350 construction jobs created and 13 operational roles needed over the life of the project.
Stanwell’s Asset Maintenance Company will also be given preference to service and maintain the facility over its projected 50-year operational life.
Additional investment partners will be sought to help fund the construction.
Cressbrook PHES is anticipated to commence operations in mid-2033 and would meet approximately 25 per cent of Stanwell’s future energy storage requirements.
Stanwell CEO, Michael O’Rourke, said the development of medium duration energy storage, like pumped hydro, is crucial to enable the continued build out of renewable energy generation.
“Cressbrook PHES also supports the ongoing development of our Tarong Clean Energy Hub,” Mr O’Rourke said.
The project will use Lake Cressbrook as the lower reservoir with a new upper reservoir constructed on land that will be owned by Stanwell and its project partner, 2.1km northeast of the lake.
During periods of high electricity demand or to firm the grid, up to 6.4GL of water would be released from the upper reservoir downstream into Lake Cressbrook, driving two 200MW turbines for a period of up to ten hours. Once this cycle is complete, the upper reservoir will be replenished with water pumped from Lake Cressbrook in readiness for the next release.
Featured image: Stanwell.
