The Clutha Pumped Hydro Consortium, which aims to restart the Lake Onslow pumped hydro storage project, is getting ready to submit an expedited consent application to the government.
The proposal, supported by the former Labour government, was abandoned by the new National-led coalition following their 2023 election victory.
Earlier estimates valued the cost of this project at close to $16 billion.
Shareholder and ex-Meridian CEO Keith Turner said the consortium is preparing to submit a fast-track consent application to the government within the “next week or two.”
“We have a pretty positive response from landowners, and the next task is to complete the fast-track submission and get that into the process,” he said.
Turner said the project would ensure a dependable, long-term power supply during periods of low hydro inflows and represented a preferable alternative to coal.
The proposed project would closely resemble the previously cancelled plan, featuring a 1000-megawatt power station and a storage capacity exceeding 5000 gigawatt hours (GWh).
The Lake Onslow project could address not only the challenge of dry years but also help manage the intermittent supply from renewable sources like solar and wind.
Turner stated that the consortium is currently focused on submitting the consent application and is not discussing funding yet. However, he has observed promising signs from the private sector regarding potential investment.
“I sit on a board in Australia; we’re doing some very large projects in New South Wales to develop renewable energy zones, and it’s just astounding the amount of global money looking to find good, reliable investments in renewable energy,” he said.
“With that backdrop, I have absolutely no question that when we know about the consent conditions, we will see a significant scale of capital for the project.”
Turner mentioned that the consortium had already received numerous phone calls from interested parties.