The Turnbull Government has reaffirmed its strong commitment
to energy security by providing $54 million from the Clean Energy Finance
Corporation (CEFC) to support a large-scale solar development with the
potential for pumped hydro storage.
Developing storage technology for renewables is important
for stabilising the grid as electricity can still be used when the sun is not
shining or the wind is not blowing.
The solar development will take place at Genex Power’s
Kidston Renewable Energy Hub, 270km north-west of Townsville.
The Australian Renewable Energy Agency has provided $4
million for a study into the next phase, a 250 MW pumped hydro-storage project.
Co-locating a large-scale solar farm with a large-scale
pumped hydro storage project will be an Australian first.
At the Turnbull Government’s request, the Australian
Renewable Energy Agency (ARENA) and the CEFC, agreed to work together on a
priority new funding round for large-scale storage and other flexible capacity
projects including pumped hydro.
The Coalition Government has already spent or committed more
than $220 million in funding for a suite of energy storage projects across the
country.
Now, more than ever, we have to ensure that renewable energy
is being properly integrated into the grid following a series of blackouts in
South Australia.
Unlike the Labor Party we are taking a technology neutral
approach to energy security and affordability and realise the importance of
developing and mobilising storage technology to deal with the challenges of
intermittency posed by renewables.
Only the Coalition can be trusted to deliver energy security
and affordability as we transition to a lower emissions future.