The Palaszczuk government’s funding of the Borumba pumped hydro project is part of the state’s push to reach 80 per cent renewable energy by 2035.
, such as Snowy 2.0 and Genex Power’s Kidston project in North Queensland, have been plagued by cost blow-outs and slow development timelines.
There will be no money allocated in Tuesday’s budget to the larger 5 gigawatt Pioneer-Burdekin project – touted as the largest pumped hydro project in the world and which is expected to have an even larger price tag – because it is not as advanced as the Borumba project.The total cost for the two pumped hydro projects in Queensland is expected to top $30 billion.
The treasurer rejected criticism about relying on pumped hydro projects to replacing the state’s coal-fired power stations by mid-next decade, as other states opt to embrace big batteries instead.“We are proceeding at pace and that’s why this investment is so important at this time. The Borumba projects is expected to be completed by 2029, while the Pioneer-Burdekin project is not due to be operational until 2035.80 per cent by 2035Energy experts have already warned Queensland’s two proposed pumped hydro plants – set to replace its existing fleet of five state-owned coal-fired power stations –Genex Power founder Simon Kidston has also acknowledged pumped hydro projects are hard to get off the ground, saying it took 10 years to get theSnowy Hydro’s Snowy 2.
“They are really big, but only provide 24 hours continuous energy. This might not be enough if you have two weeks of bad weather when there is not enough solar and wind.”
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