Stanwell Corp, the Queensland government-owned energy generator, has announced its plans to acquire a stake in the 400-megawatt (MW) Cressbrook Pumped Hydro Energy Storage (PHES) project, also referred to as Big-T. The acquisition will be executed through a joint venture with an established global pumped hydro operator.
The project, currently in its early development stages, will be advanced to a final investment decision under the new ownership structure. Stanwell is set to seek investment partners to meet the funding requirements for the initiative.
The proposed pumped hydro facility will be located at Lake Cressbrook in Queensland's Darling Downs region, approximately 64 kilometers south of Stanwell's Tarong coal-fired power stations. Once operational, the facility will have the capacity to store electricity for up to ten hours. Stanwell will be responsible for dispatching the stored energy, while its asset management unit will be prioritized for servicing and maintaining the system.
The project's two 200-MW turbines are expected to commence operations in mid-2033, with construction anticipated to create up to 350 jobs.
