Kidston Pumped Storage Hydro Project to support over 900 QLD jobs
Queensland is ready to welcome its first pumped hydro storage project in almost four decades as the State Government invests $147 million towards Genex Power's Kidston Pumped Storage Hydro Project (K2-Hydro), pushing the development towards financial close.
“As part of our Economic Recovery Strategy to grow the renewable energy sector and the jobs that come with it, the Palaszczuk Government has played a crucial role in getting the Kidston Pumped Storage Hydro Project over the line.
“This decision will further secure our strong renewables future in North Queensland and will unlock hundreds of renewable jobs,” Treasurer and Minister for Investment Cameron Dick said.
Along with the new investment from the Queensland Government, the 250MW K2-Hydro project is anticipated to support over 900 construction jobs in North Queensland as well as help boost the region's supply of dispatchable electricity.
“Our $147 million commitment will support publicly-owned Powerlink to build a 186-kilometre transmission line from Kidston to Mount Fox near Ingham, creating 400 jobs.
“Construction on the pumped hydro project will create a further 500 jobs, powering North Queensland's economic recovery,” Minister for Energy, Renewables and Hydrogen Mick de Brenni said.
Project site (source: Genex Power)
K2-Hydro is part of the Kidston Clean Energy Hub that integrates a large-scale 270MW solar farm and pumped storage hydro, built on an abandoned gold mine located approximately 270 kilometres north west of Townsville.
The pumped hydro project will utilise the mine's existing Wises and Eldridge pits as the upper and lower reservoirs.
“Financial close for the Kidston Pumped Storage Hydro Project is a monumental achievement and one Genex has been working towards for over five years.
“Site preparation activities are now well progressed as we prepare for full scale construction activities over the next few months.
“I would sincerely like to thank the Queensland Government for the significant funding support and continued commitment to the Kidston project,” Genex Power CEO James Harding said.
Once operational, K2-Hydro will have the capacity to store about 2,000MWh worth of dispatchable power that can be transmitted to the electricity market if needed.
K2-Hydro as well as the transmission line project are due to be completed and feeding into the National Electricity Market by early 2025.
Construction of K2-Hydro is being undertaken by the McConnell Dowell and John Holland joint venture.
Source: Queensland Government – Media Statements; Genex Power (1, 2); Inside Construction
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