The development of the proposed Borumba Pumped Hydro Project will soon begin after the Queensland Government announced that it will commit $6 billion through the 2023-24 State Budget towards this massive renewable energy project.
Estimated to cost $14.2 billion to build, the Borumba Pumped Hydro Project is set to become Queensland’s first major pumped hydro storage facility.
The Borumba Pumped Hydro Project is a cornerstone of the Queensland Energy and Jobs Plan along with the Pioneer-Burdekin Pumped Hydro Project, with the two projects estimated to support about 4,000 construction jobs annually over a ten-year period.
The $6 billion funding will enable Queensland Hydro to begin exploratory works as well as progress the environmental impact assessment and detailed engineering for the project. This significant investment will also support the project’s construction, which is still subject to the project securing all necessary approvals.
This investment decision was informed by engineering, environmental, social, and recreation studies that were carried out during the detailed design and cost analysis phase. The Detailed Analytical Report (DAR) was delivered to the Queensland Government by Queensland Hydro in March of this year.
“Queensland Hydro are excited and ready to go to work on the next stage of the project on the pathway to making this mega project a reality for Queensland.
“Our team is committed to the Borumba project as the first critical part of our work which will form the cornerstone of Queensland’s energy transformation,” Queensland Hydro CEO Kieran Cusack said.
The Borumba Pumped Hydro Project is going to be built at Lake Borumba, located in Imbil, west of the Sunshine Coast.
The project will involve the construction of a 2,000MW pumped hydro storage facility, six new dams, upgrades to dam infrastructure at Lake Borumba and an underground power station.
The existing lower reservoir – Lake Borumba – is going to be expanded with a new dam wall and a second reservoir is going to be built at a higher altitude. The underground power station will then connect the two reservoirs. To generate electricity, water will be released from the upper reservoir through the underground turbines to the lower reservoir.
Pending successful environmental and planning approvals, the project is expected to be completed by 2030.
At peak construction period, the Borumba Pumped Hydro Project is anticipated to generate 2,300 jobs with opportunities for local Queensland businesses.
Queensland Hydro will continue engaging with local communities and all project stakeholders all throughout the life of the project, seeking input from stakeholders and community members when determining the best allocation of funding.
Powerlink and Queensland Hydro will also be working closely as the two entities manage related projects to connect the Borumba Pumped Hydro Project to the grid, enabling electricity to be shared across the State.
Once completed, the Borumba Pumped Hydro Project will help Queensland reach its renewable energy targets of 80 per cent by 2035 and net zero emissions target by 2050.
Source: Queensland Hydro (1, 2); Queensland Government – Department of Energy and Public Works; Powerlink Queensland; Queensland Government – Budget