The Australian Renewable Energy Agency (ARENA) has provided $4 million support toward a feasilibily study looking into the technical and commercial viability of storage hydroelectric power plant.

The government funding will allow Genex Power Limited to build on the preliminary work already being conducted at the disused Kidston Gold Mine in North Queensland. The funding will be used to construct a 330 MW pumped storage hydroelectric power plant.

ARENA CEO Ian Kay believes that the initiative will further strengthen the pumped hydro storage industry in Australia and facilitate the use of renewable energy on national grids. Kay further says that the feasibility study would pave the way for Australia's first new pumped hydro storage development to last 40 years.

“Energy storage is becoming increasingly important as more renewables are connected to Australia’s electricity grids. Pumped hydro storage can provide a cost-effective alternative to large-scale battery storage and concentrating solar thermal storage,” said Kay in a press statement.

The feasibility study intends to use the unique characteristics of the Kidston mine and the existing infrastructure, minimising the environmental footprint at the same time. Genex Power Limited plans to use the existing mining pits as water storage reservoirs.

The ARENA officials believe that the project success could pump new energy and life into the abandoned mines across Australia. According to ARENA, Genex has already identified nine other sites similar to Kidston as its potential candidate for the future.

The feasibility study also intends to identify the potential roadblocks to development of pumped hydro and large-scale storage in Australia. In addition, the risks associated with the use of abandoned mines for energy storage would be studied.

Contact the writer at feedback@ibtimes.com.au, or let us know what you think below.

RELATED STORIES