Tasmanian Business Reporter July 2018

8 Tasmanian Business Reporter - JULY 2018
THOUGHT LEADERSHIP
www.tcci.com.au
Powerhouse of the nation
TASMANIA has already
established itself as the
nation’s number one renewable
state, but we
have an opportunity to
take our potential to the
next level.
A range of exciting
initiatives has been announced
which will
unlock Tasmania’s nation-leading
potential in
renewable energy.
A report released by
Australia’s leading renewable
energy body,
ARENA, identified 14
high potential pumped
energy storage sites in
our Central Highlands
and on the North and
West Coasts.
Combined, they could
deliver up to 4800 megawatts
of new energy capacity.
The next step is
to narrow down these
sites to executable projects
estimated to deliver
2500 megawatts, which
is double the existing hydro
electric capacity.
Make no mistake,
6391 8481
Guy
Barnett
Minister for Energy
this is a game-changing,
state-building, nation-leading
discovery
and underpins the future
of the energy sector in
both Tasmania and Australia.
With the potential to
create up to 3000 jobs
and generate up to $5 billion
in investment, this
is an incredible leap forward.
After this announcement,
a second report
released by ARENA cemented
what many here
in Tasmania already
knew – confirming that
we can deliver the lowest
energy costs in the
nation.
This report confirmed
that Tasmania’s strategic
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Energy heavyweights, from left, Arena CEO Ivor Frischknecht, State Energy Minister Guy Barnett,
Braddon Liberal candidate Brett Whiteley, Federal Energy Minister Josh Frydenberg, Premier Will
Hodgman and Hydro CEO Steve Davy and, below, Tungatinah Power Station.
bine to provide additional
energy into the electricity
grid when needed.
However, it’s not just
about Next Generation
Hydro, with Tasmania’s
world-class wind potential
also playing a critical
role in the state’s energy
future.
Cattle Hill and Granville
Harbour wind farms
are already under way,
with plans for expansion
elsewhere including at
Robbins Island.
Tasmania’s wind is not
just a powerful resource
for the state, but our wind
often blows when it’s not
blowing elsewhere in the
country, enabling us to
provide wind-generated
electricity when it’s
needed elsewhere in the
National Electricity Market.
The combination of
Tasmania’s pumped hydro,
wind and interconnection
is said to be
cost-competitive against
all other realistic options
for the future energy system.
ARENA’s “Battery of
the Nation” analysis of
the future National Electricity
Market’ report
states Tasmania’s “flexible
hydro power… could
translate to a 20 per cent
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advantages should make
a pumped hydro investment
a national priority.
In fact married with
new interconnection
they become nation
building infrastructure
projects according to
Federal Energy Minister,
Josh Frydenberg.
As more coal fired
power stations retire and
more intermittent renewables
such as wind enter
the market, a reliable energy
source is required to
fill that gap.
Tasmania’s geography
and topography and the
location of our existing
hydro assets make our
state strategically placed
to deliver low cost, 100
per cent renewable dispatchable
power – energy
on tap.
Currently, we have 30
power stations spread
across the heart of Tasmania.
This infrastructure
was established
through decades of toil
and innovation by our
forebears over the great
era in Tasmanian history
known as “hydro-industrialisation”.
We are entering a new
era characterised by
pumped hydro energy
storage, which is now
regarded as the most
mature electrical energy
storage system in the
world, accounting for 97
per cent of energy storage
worldwide.
Pumped hydro energy
storage is Next Generation
Hydro for Tasmania.
Put simply, it involves
pumping water uphill to
a storage reservoir and
releasing it through a turwww.flairofficefurniture.com.au
reduction in energy costs
and an additional reduction
of up to nine million
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This 20 per cent competitive
advantage includes
the cost of additional
interconnection
to the mainland.
New and increased
interconnection underpins
this development,
and the Australian Government
agrees referring
to it as “national
infrastructure” and Infrastructure
Australia
considering it as a priority.
A number of potential
terminal sites on mainland
Victoria and across
the North of Tasmania
have been identified.
TasNetworks is reviewing
and has met
cable manufacturers in
Europe to discuss.
The Hodgman Liberal
Government’s is
getting on with the job
shoulder to shoulder
with the Turnbull Liberal
Government to
capitalise on our unique
renewable energy advantage
to create more
jobs, investment and
low cost power that will
deliver benefits for next
generation Tasmanians.
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