Stanwell Acquires Major QLD Pumped Hydro Project
Oct 7, 2024
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Joint Venture to Develop Cressbrook Pumped Hydro
Stanwell has teamed up with a global pumped hydro operator to acquire the Cressbrook Pumped Hydro Energy Storage (PHES) Project, located at Lake Cressbrook, just north-east of Toowoomba. The 400MW facility will generate clean energy for up to ten hours, positioning itself as a crucial player in Queensland’s renewable energy future.
Early Stages of Development
The project is still in its early development phase, with the joint venture working toward a final investment decision. Once operational, Stanwell will be responsible for dispatching the energy generated by the Cressbrook PHES.
Boost for Local Employment
Cressbrook PHES is expected to generate 350 construction jobs and create 13 operational roles during its 50-year operational lifespan. Stanwell’s Asset Maintenance Company will be prioritized for the facility's servicing needs, supporting regional employment further.
Mid-2033 Operations Launch
The project is slated to begin operations by mid-2033, meeting 25% of Stanwell’s future energy storage requirements. Additional investment partners will be sought to help fund the construction of the project.
A Vital Step Toward Renewable Expansion
Stanwell CEO, Michael O’Rourke, emphasized that energy storage projects like Cressbrook PHES are essential for facilitating the growth of renewable energy generation. The project also aligns with the ongoing development of the Tarong Clean Energy Hub, reinforcing Queensland’s commitment to a cleaner energy future.
How It Works: A Sustainable Energy Cycle
The Cressbrook PHES will use Lake Cressbrook as the lower reservoir, with a new upper reservoir constructed nearby. During periods of high demand, water will flow from the upper reservoir to Lake Cressbrook, powering two 200MW turbines. The water will then be
pumped back up, ready for the next cycle.
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