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EDF Group acquires and agrees to co-develop Pumped Hydro Energy Storage Project in New South Wales, Australia.

EDF Group 3 mins read

EMBARGOED until 12am 27 February 2024

EDF Group acquires and agrees to co-develop Pumped Hydro Energy Storage Project in New South Wales, Australia.

EDF Group, one of the world’s leading developers and operators of pumped hydro energy storage ( PHES ), has acquired and agreed to co-develop the Dungowan pumped hydro energy storage project ( Dungowan PHES ) located near Tamworth. EDF will co-develop the Dungowan PHES with Australian owned companies Mirus Energy and Energy Estate.

Located in the New England Renewable Energy Zone, the Dungowan PHES is proposed to have a capacity of 300MW for up to 10 hours of energy storage and will be located downstream of the existing Dungowan dam. James Katsikas, Chief Executive Officer - EDF Australia, commented that the acquisition and joint development of the Dungowan PHES is testimony to EDF’s continued commitment to develop critical, clean energy infrastructure in Australia and to work with local communities in doing so.

“We intend to work very closely with the local community,” said Mr Katsikas. “We will work with all stakeholders to ensure that the Dungowan PHES becomes a model of sustainable development and a source of real pride for the region.”

“Our goal is not only to facilitate clean, renewable energy for the region, but also to foster economic growth and create new opportunities for local businesses and residents” concluded Mr Katsikas.

The project has been in development since 2014 and was awarded pre-investment studies funding by the NSW Government under the Emerging Energy Program in 2019. 

Mr Katsikas said that the Australian EDF team was looking forward to working with both Mirus Energy and Energy Estate to develop the project and noted that “EDF will work hard to ensure that the project meets the expectations of Australian consumers and governments for energy security, affordability and reduced emissions.”

Mr. Katsikas also noted that EDF Group’s investment into Dungowan PHES was underpinned by the strong and continuing level of support for such projects by the NSW Government and associated authorities.

He noted that EDF Group’s long term plans for Australia were to develop a portfolio of clean energy projects across multiple Australian States, leveraging EDF’s global track record and technical, delivery and financing capabilities.

“We have rapidly built a development team on the ground in Australia through the first half of 2023 and will continue to grow the team as we accelerate”

Mark Waring, founder of Mirus Energy, said “We carefully selected the site for the Dungowan PHES so it could support the development of the wind and solar renewable energy resources in the New England region. It is strategically located between retiring coal capacity to the south and wind and solar capacity to the east, west and north. The project is located so it can connect to new transmission infrastructure being developed by EnergyCo or the existing transmission lines.”

Simon Currie, co-founder of Energy Estate, noted “An accelerated transition of the energy sector in NSW requires new entrants with a track record of successful delivery and a long term commitment. EDF Group is the right partner for Dungowan PHES. They understand the complexities of developing large scale pumped hydro projects and we are able to leverage their global resources, capacity and access global supply chains.”

-ENDS-

This press release is certified. Check its authenticity on medias.edf.com


About us:

About EDF
As a major player in the energy transition and one of the world's largest, diversified, clean energy producers, the EDF Group is an integrated energy company active across the energy value chain: generation, transmission, distribution, storage, energy trading, energy sales and energy services.
The EDF Group operates in more than 25 countries across Australia, Europe, North America, South America, Asia-Pacific, Africa and the Middle East.
With:
● approximately 170,000 employees;
● a €390B balance sheet and consolidated sales of €143.5 billion in 2022;
● over 40 million customer sites worldwide;
● approximately 120GW of installed capacity (producing 550+ TWh of electricity generation);
● over €600M spent on research and development annually; and
● over €8B spent on supply chain and procurement annually,
we are uniquely placed to help the world achieve the energy transition. In 2022, nearly 95% of the EDF Group's investments were in accordance with the EDF Group's low-carbon goals. We are committed to the energy transition globally. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development.

EDF Group is the world’s leading developer and operator of PHES. In France, the 436 hydroelectric power stations and 239 large dams and water intakes operated by EDF play a part in ensuring security of supply for the country (around 22GW capacity and 45TWH annual generation). We are also investing in new technologies to support the energy transition.

Mirus Energy and Energy Estate are Australian owned companies who are jointly developing a large portfolio of wind, solar and storage projects in the New England REZ. This portfolio includes Dungowan PHES and the Walcha Energy Project which includes Ruby Hills Wind Farm, Salisbury Solar Farm and the Uralla Hub BESS.

For more information please see www.dungowanpumpedhydro.com.au; www.energyestate.com


Contact details:

Clare Wilks
clare@taylorconnect.org

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