Developer scraps billion dollar New South Wales pumped hydro project
Published 12h ago · Latest report 3h ago · Restructuring
Affects Australia · Covered in 2 countries
Alinta Energy cancelled its costly New South Wales pumped hydro project due to unfavorable economic conditions.
Alinta Energy has cancelled plans to build a major pumped hydro energy storage facility in northern New South Wales. The developer cited severe economic challenges that made the infrastructure project financially unviable. The decision comes amid broader cost pressures facing large renewable energy storage initiatives across the country.
- The costAlinta Energy valued the abandoned infrastructure undertaking at $1,800,000,000.
- The locationThe cancelled pumped hydro installation was planned for the Oven Mountain area in northern New South Wales.
Why it matters
Pumped hydro energy storage is considered vital for balancing intermittent renewable generation like wind and solar by storing excess power. However, soaring material costs, engineering hurdles, and shifting economic conditions have placed heavy financial pressure on major green energy infrastructure.
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How outlets cover it
What outlets agree on
Alinta Energy has officially withdrawn its plans to construct the Oven Mountain pumped hydro energy storage facility in northern New South Wales due to economic viability issues.
In this story
Covered by 2 outlets
50% of the sources are Left
Lean ratings via AllSides, Media Bias/Fact Check
- The GuardianSnowy Hydro 2.0 has blown out to 12 times its original cost – but the CEO says it ‘could have been worse’3h ago · open ↗
- ABC News (Australia)Pumped hydro project scrapped after developer deems it unviable12h ago · open ↗
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