News

Visitors in Cooma ahead of drilling for Snowy 2.0 commencing

28/06/2017

The Prime Minister, Malcolm Turnbull, Deputy Premier John Barilaro and Parliamentary Secretary Bronnie Taylor visited Cooma today ahead of investigative drilling commencing for Snowy 2.0.

Snowy Hydro Limited CEO Paul Broad and Snowy Mountains Engineering Corporation (SMEC) CEO Andy Goodwin provided a Snowy 2.0 update and showcased one of the drill rigs.

Mr Broad said the investigative drilling, which is expected to commence next month after all approvals, is a critical milestone for the Snowy 2.0 feasibility study.

“The drilling will provide us with detailed geotechnical information about the rock formations, strength and structure of the area where the tunnels between the Tantangara and Talbingo reservoirs and underground power station will be located.”

“The core holes will be drilled in key locations so that we have a very clear picture of the geology and can better plan and cost the project.” Mr Broad said.

The geotechnical information collected through this process will be shared with research and education institutions for science and research purposes.

The Prime Minister, Deputy Premier and Parliamentary Secretary’s visit was also an opportunity for Snowy Hydro and SMEC to bring together their local project teams to celebrate the reopening of the SMEC office in Cooma.

SMEC’s CEO Andy Goodwin said the reopening of their Cooma office and work on the Snowy 2.0 feasibility study will continue to generate economic activity in the region.

“It’s great to be working on such a iconic hydropower project with Snowy Hydro that reflects on our namesake and history. For SMEC this is an opportunity to bring back our local people with global experience to contribute to the legacy for the next generation.

“The Feasibility Study will generate more than 250 jobs across professional services, construction and administrative support and if Snowy 2.0 goes ahead we expect to create about 5000 jobs over the life of the build,” Mr Goodwin said.

The Snowy 2.0 Feasibility Study will be completed by the end of this year.

Snowy Hydro is proud to provide secure, stable and reliable renewable energy to households and businesses. If built, Snowy 2.0 would increase the generation capacity by up to 50 per cent, making up to 2000 megawatts available to the National Electricity Market.

News

Snowy Hydro welcomes Finkel Review

09/06/2017

Snowy Hydro Limited welcomes the support of the Finkel Review of pumped hydro as a key to energy security as it focuses on recommendations aimed at strengthening reliability in the National Electricity Market.

Snowy Hydro CEO Paul Broad said the Snowy 2.0 project would play a key role in both ensuring security of supply and backing up the expected big increase in intermittent supplies – wind and power – in the market.

The report states on p33 that “Battery and pumped hydro storage will be able to support a reliable and secure NEM, as and when they are deployed at scale.”

Mr Broad said the Finkel Review had identified the need to guarantee back-up to any new intermittent power supply projects.

“Snowy 2.0 fulfils the objectives of the Finkel Review on energy security, in that it can uniquely provide the largest scale and affordable storage of renewable energy to support the reliable and secure power supply that is needed for Australia to move safely to a low emissions economy”, Mr Broad said.

“The Finkel review rightly points to the importance of pumped hydro as an essential back-up to intermittent wind and power to protect consumers and business, and ensure we don’t face the catastrophic supply failures that we have seen in South Australia.”

Snowy Hydro also supports market-based mechanisms to achieve the Government’s commitment to climate change targets, as well as stable and long term policy certainty. We will be actively engaging with relevant bodies to implement policies which best meet the energy trilemma of market efficiency, energy security and emission reductions.

Snowy Hydro Media Enquiries:

Simon Troeth

0439 300 335

e: Simon.Troeth@newgatecomms.com.au

www.snowyhydro.com.au

News

Expanding Pumped Hydro Storage

15/03/2017

The iconic Snowy Scheme’s role as the battery of the National Electricity Market (NEM) could be supercharged as part of plans to expand the pumped hydro storage capability within the Scheme.
Snowy Hydro, working with the Australian Renewable Energy Agency (ARENA), will shortly commence a feasibility study into several sites across the Scheme which could support new large-scale, pumped hydro-electric energy storage.

The proposal could add up to 2000 megawatts of new renewable energy to the NEM and act as rapid response back-up to fill the gaps in energy supply caused by intermittent renewables and generator outages.

The pumped hydro capability means the water utilised for electricity generation can be recycled to give continuous supply when it’s needed most, with no impact on the Scheme’s ability to continue to supply valuable water to irrigators in the food bowl of Australia.

Snowy Hydro Managing Director and CEO, Paul Broad, said the proposal has the potential to deliver an innovative clean-energy solution to the critical security and supply issues in the NEM, helping to take the pressure off power prices for consumers and businesses, while reducing emissions.

“From our earliest days, Snowy Hydro has been moving water to support the irrigators in the food bowl of Australia and generating electricity during peak demands to keep the lights on in the NEM,” Mr Broad, said.

“The creators of the Scheme foresaw a time when its capabilities may need to be expanded and, as a result, there are very real options in-built in the Scheme’s design to extract more value to the community.

“At a time when the security and stability of the NEM, energy affordability and emissions reduction are under scrutiny, there is an opportunity to leverage the iconic Snowy Scheme to once again deliver an energy solution for the country.

“By supercharging the utilisation of the Snowy Scheme’s storage, we can help the NEM best cope with peak demand through new supply at a time when baseload energy is exiting the market and renewables with intermittent generation are not providing the reliable capacity needed by Australian businesses and consumers.

“While the feasibility study is the first step, this project could once again bring together the world’s best and brightest engineers and technicians to enhance a national icon.”

The Scheme itself already operates as the ‘battery storage’ of the NEM, utilising dams to store energy in the form of water that can be delivered to the grid within minutes through the fast start capabilities of the Scheme’s nine power stations.

There are a number of sites across the Scheme capable of supercharging Snowy Hydro’s storage capability – providing additional generation capacity, helping the security and stability of the NEM, and with pumping capability to maximise the water resources and existing dam storage in the Scheme. The most prospective project could increase the capacity of the 4100 megawatt Snowy Scheme by 50 per cent and result in a power station at least as powerful as Snowy Hydro’s 1800 megawatt Tumut 3 Power Station, which already includes pumped hydro capability.

The feasibility study will explore the physical, technical and environmental requirements for expansion of pumped hydro at sites across the Scheme, the potential output of new pumped hydro facilities and the costs associated with each project.

The Australian Government, through ARENA, is negotiating grant funding to support the Snowy Hydro feasibility work as part of ARENA’s ongoing efforts to accelerate Australia’s shift to renewable energy.

ARENA CEO Ivor Frischknecht said expanding the Snowy Scheme could help to deliver ARENA’s goal of ensuring a smooth transition to a renewable energy future.

“Australia’s energy system is rapidly evolving and ARENA is funding solutions like pumped hydro storage that provide consumers with more affordable and reliable renewable energy,” Mr Frischknecht said.

“Pumped hydro is economically viable right now and supports our grids by providing long term energy storage capacity that’s available on demand.”

News

SA Solar Investment

01/02/2017

Snowy Hydro Limited will invest in a battery ready 100 megawatt solar facility in Tailem Bend in South Australia to boost its generation capacity and grow its electricity retail business – Lumo Energy.

By entering into a long-term agreement with experienced renewable energy investor and developer Equis, Snowy Hydro will be able to access 100 megawatts of renewable solar generation on completion of the solar farm in 2018, with the ability to install up to 100 megawatts of large-scale battery storage on the Tailem Bend site.

“This is an exciting opportunity for Snowy Hydro to source renewable generation in South Australia to complement our existing capacity,” Snowy Hydro CEO and Managing Director Paul Broad said.

“The solar farm represents a significant, strategic investment in South Australia by Snowy Hydro and demonstrates our commitment to growing both our generation business and our Lumo Energy business, which services around 50,000 electricity customers in the State.

“We are pleased to be working with Equis to deliver more renewable energy to South Australia, backed by reliable fast-start thermal capacity. Importantly, this unique generation facility at Tailem Bend is also ‘battery ready’ with the ability to install up to 100 megawatts of large-scale battery storage on the site.”

David Russell, CEO of Equis, said: “As Asia’s largest renewable energy developer and investor, the Tailem Bend solar project represents an exciting expansion into Australia for Equis and an unique opportunity to leverage our development and construction expertise to deliver large scale, reliable renewable energy for Australian consumers.

“We are delighted to partner Snowy Hydro on the Tailem Bend solar project to build one of Australia’s lowest cost solar generation projects with a unique “battery-storage ready” design, further enhancing the project’s long term attractiveness as a stable, low cost source of power.”

Snowy Hydro currently owns and operates 5500 megawatts of generation capacity across Australia, including the iconic 4100 megawatt Snowy Hydro-electric Scheme in the Snowy Mountains region of NSW.

The Tailem Bend project will mean Snowy Hydro has access to 264 megawatts of generation capacity in South Australia. The company already operates 136 megawatts of thermal capacity at Port Stanvac and Angaston and will add a further 28 megawatts of diesel generation at the Tailem Bend site from 2017.

“We combine the power of the mighty Snowy Scheme with gas and diesel fired peaking generators to deliver a flexible and reliable mix of energy to our growing customer base every day,” Mr Broad said.

“We have been keeping the lights on in NSW and Victoria since construction days in the 1950s and are one of the most experienced and diverse companies operating in the National Electricity Market.

“Through our award winning retail companies – Red Energy and Lumo Energy – Snowy Hydro services more than one million gas and electricity customer accounts. We pride ourselves on superior customer service and look forward to growing our Lumo Energy retail customer base in South Australia.”