The New Zealand authorities will examine the potential of constructing a pumped hydroelectric facility within the South Island. The venture will present as much as 8.5 TWh of annual technology and storage capability to assist the nation’s transition to 100% renewable electrical energy technology.
From pv journal Australia
The New Zealand authorities has confirmed it is going to make an in depth enterprise case for a pumped hydro scheme at Lake Onslow, because it seeks to construct a “resilient, inexpensive, safe and decarbonised vitality system.”
Power Minister Megan Woods stated the Lake Onslow facility was the centerpiece of the New Zealand Battery Challenge, which was set as much as discover how finest to deal with the dry yr downside – when low rainfall is limiting. within the present provide of hydro-electricity – which doesn’t use fossil fuels.
“Till we tackle the dry yr downside, we are going to proceed to depend on burning costly and polluting fossil fuels to generate our electrical energy,” Woods stated. “Pumped hydro is a good way to retailer vitality in a big reservoir, which is launched right into a decrease reservoir when extra energy is required, like a large battery.”
It’s estimated that there may very well be an vitality deficit of between 3 TWh and 5 TWh within the worst summer time, about 10% of the nation’s present annual vitality demand.
The pumped hydro scheme at Lake Onslow is anticipated to supply between 3 TWh and eight.5 TWh of annual technology and storage capability, relying on the scale of the enlarged lake.
The primary section of the investigation reveals that the venture will take seven to 9 years to construct.
“We have at all times recognized that any dry yr battery storage resolution requires important funding, so it is necessary that we take a look at these eventualities and get it proper,” Woods stated. “Now that some extra detailed work has been accomplished we now have a a lot clearer image of the projected prices which might be very totally different from the 2006 high-level prices. The subsequent step is to dig deeper into the we’re nonetheless taking a look at spending such a lot of cash, however one factor we all know is that doing nothing to plan for local weather change shouldn’t be an possibility.
Woods stated the federal government would additionally proceed to research another possibility that would come with a portfolio of applied sciences, together with biomass burning, geothermal vitality and inexperienced hydrogen, in addition to a small pumped hydro scheme. within the heart of the North Island. The choice portfolio possibility would value about $13.5 billion, Woods stated, however it will have larger working prices than the Lake Onslow pumped hydro venture.
An in depth enterprise case is more likely to be developed by the top of subsequent yr. The ultimate funding resolution will take one other two years to make.
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