Why it’s important: The electricity market desperately needs long duration storage
Context: The Australian Energy Market Operator says there’s an increased risk of blackouts this summer
What’s next: Hydrostor expects to make a final investment decision in late 2024
The developer of a novel compressed-air energy storage project near Broken Hill is eyeing larger projects across three states as policymakers’ attention shifts to long-duration storage to support the grid through wind and solar power droughts.
Canadian-based Hydrostor has struck a deal with the operator of the Broken Hill’s fabled zinc, lead and silver mine to build its proposed 200 megawatt plant – with eight hours of storage at full power – in a disused cavity near the historic mining town.
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Ben Potter writes on energy, climate change and innovation, and has been Washington correspondent, opinion editor and companies editor. Connect with Ben on Twitter. Email Ben at bpotter@afr.com
