Phase 2 Cultana pumped hydro receives $1m grant funding
The Australian-first seawater pumped hydro energy storage project proposed for South Australia has secured $500,000 in funding by each of the Australian Renewable Energy Agency and the South Australian Government under its Renewable Technology Fund.
The grants will partially fund the project’s second phase of works, necessary to proceed to a final investment decision.
EnergyAustralia’s Head of Assets, Julian Turecek, welcomed the ARENA and South Australian government funding which will enable crucial works to continue. He stated “Pumped hydro has great potential to integrate intermittent renewable supply into the grid in a way that delivers reliable, affordable energy,” said Mr Turecek.”
EnergyAustralia will continue to keep the local community informed of the project’s progress and expects to hold another community forum in the coming months.