Alinta Scraps $1.8 Billion Pumped Hydro Project in NSW
One analyst says pumped hydro may not be a viable option given Australia's struggling economy and high costs.
TL;DR
- Alinta Energy is canceling the $1.8 billion Oven Mountain Pumped Hydro Energy Storage Project.
- The project was planned for the north coast of New South Wales.
- It was designed as a 900-megawatt facility to store renewable energy.
- The project aimed to help NSW add more renewables and replace coal power.
- The facility would pump water uphill between two reservoirs to store energy.
- It was expected to power 600,000 homes.