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Released May 12, 2025 | GALWAY, IRELAN
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The state of Queensland government in east Australia is to inject US$30 million in the redevelopment of a gold mine into a 2-gigawatt (GW) pumped-hydro storage (PHES) facility.
The funding is intended to help the US$4.6 billion Mount Rawdon project, located at a 20-year old gold and silver mine west of Bundaberg, reach a final investment decision. The mine is nearing the end of its life with closure planned for 2027, and owner Evolution Mining (New South Wales, Australia) driving the project with partners including financial consultants ICA Partners and CleanCo (Queensland), the green energy utility set-up by the state with the goal of shifting the power mix to 50% renewables by 2030, 70% by 2032 and and to 80% renewables by 2035. Mount Rawdon will be capable of storing the water required to generate 20,000 megawatt-hours (MWh) of electricity, enough to power 2million homes for up to 10 hours at peak electricity times.
CleanCo Chief Executive Officer Tom Metcalfe said: "Mt Rawdon presents a unique opportunity to repurpose existing mining infrastructure to become part of the long-term solution to securing a renewable energy future for Queensland. CleanCo is a passionate advocate for long-duration storage. As Wivenhoe Pumped Hydro demonstrates on a daily basis, long duration energy storage is essential in soaking up excess renewable energy when it's plentiful and delivering it back into the grid when demand is high. This sustainable resource safeguards reliability of supply in a net zero future. We welcome the government's support and vision in backing practical, deliverable clean energy projects like this one."
The open-cut pit will become a lower water reservoir, while the developers will build an upper water reservoir on land adjacent to mine. There will also be underground powerhouse, underground water tunnels and underground access tunnels to form an off-river, close-loop PHES facility. Energy produced will be fed into the Queensland electricity grid via 27 kilometers (km) of high-voltage transmission lines that will terminate at a new substation to be constructed near Perry River at Morganville. The PHES will be capable of completing a full cycle within a 24-hour period, comprising 10 hours of generation and 14 hours of pumping.
Queensland sees pumped hydro, wind and solar as key to helping the state reduce its current reliance on coal and gas-fired power. The state has previously committed US$41 billion to its energy transformation. Industrial Info is tracking a number of major PHES projects in the state, including the world's largest pumped-hydro project. The 5,000 MW Pioneer-Burdekin project will be capable of generating the equivalent of around half of the entire state's peak power usage. It has committed US$4billion for the Borumba Pumped Hydro project, a 2,000-MW PHES project at Lake Borumba, located near Imbil. The total project cost is estimated to be US$9.4 billion. It will include the construction of six new dams, an upgrade to dam infrastructure at Lake Borumba and an underground power station. The project is due to be completed by 2030. More recently, Queensland government-owned generation company Stanwell Corporation (Brisbane, Queensland) has added pumped hydro to its growing energy storage portfolio, by taking a stake in the Cressbrook pumped-hydro project. It will generate 400 MW of continuous electricity for 10 hours per day, and will come with a 200 MW battery energy storage system (BESS).
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The funding is intended to help the US$4.6 billion Mount Rawdon project, located at a 20-year old gold and silver mine west of Bundaberg, reach a final investment decision. The mine is nearing the end of its life with closure planned for 2027, and owner Evolution Mining (New South Wales, Australia) driving the project with partners including financial consultants ICA Partners and CleanCo (Queensland), the green energy utility set-up by the state with the goal of shifting the power mix to 50% renewables by 2030, 70% by 2032 and and to 80% renewables by 2035. Mount Rawdon will be capable of storing the water required to generate 20,000 megawatt-hours (MWh) of electricity, enough to power 2million homes for up to 10 hours at peak electricity times.
CleanCo Chief Executive Officer Tom Metcalfe said: "Mt Rawdon presents a unique opportunity to repurpose existing mining infrastructure to become part of the long-term solution to securing a renewable energy future for Queensland. CleanCo is a passionate advocate for long-duration storage. As Wivenhoe Pumped Hydro demonstrates on a daily basis, long duration energy storage is essential in soaking up excess renewable energy when it's plentiful and delivering it back into the grid when demand is high. This sustainable resource safeguards reliability of supply in a net zero future. We welcome the government's support and vision in backing practical, deliverable clean energy projects like this one."
The open-cut pit will become a lower water reservoir, while the developers will build an upper water reservoir on land adjacent to mine. There will also be underground powerhouse, underground water tunnels and underground access tunnels to form an off-river, close-loop PHES facility. Energy produced will be fed into the Queensland electricity grid via 27 kilometers (km) of high-voltage transmission lines that will terminate at a new substation to be constructed near Perry River at Morganville. The PHES will be capable of completing a full cycle within a 24-hour period, comprising 10 hours of generation and 14 hours of pumping.
Queensland sees pumped hydro, wind and solar as key to helping the state reduce its current reliance on coal and gas-fired power. The state has previously committed US$41 billion to its energy transformation. Industrial Info is tracking a number of major PHES projects in the state, including the world's largest pumped-hydro project. The 5,000 MW Pioneer-Burdekin project will be capable of generating the equivalent of around half of the entire state's peak power usage. It has committed US$4billion for the Borumba Pumped Hydro project, a 2,000-MW PHES project at Lake Borumba, located near Imbil. The total project cost is estimated to be US$9.4 billion. It will include the construction of six new dams, an upgrade to dam infrastructure at Lake Borumba and an underground power station. The project is due to be completed by 2030. More recently, Queensland government-owned generation company Stanwell Corporation (Brisbane, Queensland) has added pumped hydro to its growing energy storage portfolio, by taking a stake in the Cressbrook pumped-hydro project. It will generate 400 MW of continuous electricity for 10 hours per day, and will come with a 200 MW battery energy storage system (BESS).
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
