Queensland’s state-owned power giant Stanwell is set to acquire the Cressbrook Pumped Hydro Energy Storage Project.
The project, also known as “Big-T”, located at Lake Cressbrook, approximately 64km south of Stanwell’s Tarong power stations.
It is expected to generate 400 megawatts (MW) of clean energy for up to 10 hours.
According to Stanwell, the acquisition of the Cressbrook Pumped Hydro Energy Storage Project marks a significant step forward for the company’s commitment to sustainable energy solutions.
The project, which is in its early stages of development, will be progressed to a final investment decision by the joint venture.
Once operational, the pumped hydro facility is expected to bring substantial economic benefits to the Toowoomba and Somerset regions.
During the construction phase, the project is set to create up to 350 jobs, while an additional 13 operational roles will be required over the life of the project.
Stanwell’s asset maintenance company will be given preference to service and maintain the facility over its projected 50-year operational life, further contributing to the local economy.
The Cressbrook Pumped Hydro Energy Storage Project is anticipated to commence operations in mid-2033 and is expected to meet approximately 25 percent of Stanwell’s future energy storage requirements.
According to Stanwell, additional investment partners will be sought to help fund the construction of this substantial clean energy project.
Subscribe to Energy Today for the latest project and industry news.