Fourteen ‘high potential’ pumped energy storage sites have been identified in Tasmania, marking a significant step towards unlocking the State’s untapped energy potential and creating more jobs and investment.
The sites are located in Tasmania’s Central Highlands and on the North and West Coasts and have a combined capacity of up to 4800MW, which is higher than initially anticipated.
Premier Will Hodgman said the project is an incredible leap forward for jobs, investment and energy security in Tasmania.
“Tasmania’s pumped hydro scheme has the potential to be this generation’s version of the historic hydro-electric development," Mr Hodgman said.
“This is state-building and nation-leading, and will cement Tasmania’s position as the country’s clean, reliable and affordable energy powerhouse.
“Early modelling shows the construction could create up to $5 billion of investment and around 3000 jobs in regional Tasmania over 10 to 15 years”.
Hydro Tasmania will now commence investigations into the 14 proposed sites to establish which could provide the equivalent to around 2500 megawatts of power.
Tasmanian Minister for Energy Guy Barnett said the project further strengthens the case for a second interconnector across Bass Strait.
“Tasmania is a renewable energy leader that can more than double our energy supply by 2033 while delivering thousands of new jobs and low cost clean energy.
“These pumped Hydro developments are important building blocks of a long term plan.
“This report is compelling evidence in support of further interconnection to help drive down energy prices and underpin our growing economy.
“Our Tasmania First Energy policy builds on Tasmania’s renewable energy advantage to unlock more development growth and jobs”.