AGL today announced it had secured the right to develop, own and operate a 250-megawatt pumped hydro energy storage project at Hillgrove Resources Limited’s Kanmantoo copper mine in South Australia’s Adelaide Hills region.
AGL’s Executive General Manager of Wholesale Markets, Richard Wrightson, said: “This is an exciting project, which is consistent with our plans to continue to invest in our core energy markets business as customer needs and technologies evolve.
“If we proceed and the project is approved, it would be an important addition to our technology mix in South Australia, where we have significant wind and thermal generation. It would help us to meet the changing needs of the South Australian energy market, in which energy storage assets are likely to be needed to provide dispatchable capacity as renewables generation increases over coming years.”
Mr Wrightson said the signing of binding agreements was the start of a multiple stage process to progress the project, including the lodgement of a development application in 2020. AGL would buy the land required for the project from Hillgrove shortly after a final investment decision, which is expected to be made after the completion of processing at Kanmantoo.
“If all approvals are received, we expect the project to be complete and operating by 2024,” Mr Wrightson said.
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have 3.6 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.