Ayala-led ACEN Corporation, through its subsidiary ACEN Australia has been selected to receive feasibility funding for its 800-megawatt (MW) Phoenix Pumped Hydro Project, a renewable energy storage facility, in New South Wales
“This project has the potential to facilitate more renewable projects in the Central West Orana region and provide valuable firming services in NSW. Phoenix Pumped Hydro will be bidding for Long-Term Energy Services Agreements for long-duration storage under the Electricity Infrastructure Investment Safeguard,” ACEN Australia CEO Anton Rohner said in a statement.
The project has been selected by EnergyCo and WaterNSW to conduct a study to help determine if it can support New South Wales’ energy security and help replace the retiring coal-fired generation capacity, and support the government’s renewable energy objectives outlined with its electric strategy.
“The project is being supported by the NSW Government through WaterNSW’s Renewable Energy and Storage Program, and also through AU$7 million in feasibility study funding by EnergyCo under its Pumped Hydro Recoverable Grants Program,” ACEN said in a statement.
The 12-hour duration storage project will be located within NSW’s Central-West Orana RE Zone. If the project is found feasible, it will offer energy storage solutions and support nearby wind and solar assets.
If the Phoenix pump-hydro project was found viable, it is expected to start its construction in 2025 and become operational before 2030, in line with NSW government’s goal to achieve at least 2 gigawatts (GW) of new long-duration storage by 2030 adding that it could help other nearby wind and solar assets.
ACEN looking to increase its renewable energy portfolio to 20GW by 2030. The company is looking to begin operations for around 700 MW worth of solar and wind projects this year.