Private Consortium Proposes Lake Onslow Pumped Storage Scheme in New Zealand
The Lake Onslow pumped storage scheme in New Zealand aims to enhance electricity security during dry years. It involves pumping water from the Clutha River to an expanded Lake Onslow reservoir when power prices are low, then generating electricity during high demand.
Following the termination of a business case study by the new government in 2023, a private consortium has emerged to pursue the project commercially, led by Keith Turner, former CEO of Meridian Energy. The consortium has submitted an application for referral under the Fast-Track Approvals Act, with a decision expected soon.
If approved, the project could lower power prices and provide emission-free electricity, though profits may flow overseas. The scheme's operational efficiency is estimated at 70%, and concerns about evaporation and leakage are minimal.
Additionally, it may provide local water supply benefits for Dunedin. A final decision on the consortium's proposal is anticipated soon.
