AGL has acquired full ownership of two early-stage pumped storage hydro projects in New South Wales’ Upper Hunter region, Australia. The projects, previously held by Upper Hunter Hydro Top Trust (UHH), are located at Glenbawn and Glennies Creek.
According to AGL, the Glenbawn project is designed to provide 770MW of 10-hour storage, while Glennies Creek is expected to deliver 623MW of 10-hour storage. The company also noted the potential for integrated wind generation at both sites.
AGL Chief Operating Officer Markus Brokhof said the acquisition is part of the company’s broader strategy to expand its renewable energy and firming capacity.
“Adding long duration storage such as pumped hydro is a focus for AGL as we continue to build out the breadth of our development pipeline to achieve our ambition of adding 12 GW of new renewables and firming by 2035,” Brokhof said. “This acquisition adds to AGL’s growing development pipeline. The project has favourable topography and is located in the Upper Hunter NSW, continuing our ongoing commitment to the economy in the Hunter region.”
He emphasised the importance of a mix of storage technologies for the energy transition.
“It is crucial the future energy system is developed with a spectrum of storage and firming, encompassing short, medium, and long-term storage technologies. Developing pumped hydro energy storage and other synchronous long duration storage is integral to ensuring reliability and affordability as Australia transitions to a renewable energy system.”
Brokhof also welcomed recent government moves to support long-duration storage.
“AGL is encouraged by the NSW Government’s decision to maintain 8+ hours as the definition for long duration storage as well as its increased targets for long duration storage. Government support will be required to help bring these critical projects to market. The attractiveness of pumped hydro is the long technical lifetime of a project, which can range between 80 and 100 years.”
Outgoing UHH Chairman Malcolm Turnbull said AGL is well positioned to take the projects forward. “Long duration storage will play a critical role in Australia’s future energy system, helping to keep the grid reliable by shifting renewable energy to match consumer demand. The Glenbawn and Glennies Creek projects are well placed to create jobs and drive investment in the Hunter which plays a pivotal role in the energy transition,” he said.
Turnbull Renewables will continue supporting the development of the projects.
