ARENA to fund 200-MW Hydrostor energy storage project in NSW

• The Australian Renewable Energy Agency (ARENA) is set to provide funding for the construction of a 200-MW/1,600-MWh Advanced Compressed Air Energy Storage (A-CAES) facility at a disused mine in New South Wales, offering at least eight hours of storage capacity.
• This project will receive AUD 45 million (USD 28.2m/EUR 28.8m) in grant funding from ARENA upon financial close.
• The system, named the Silver City Energy Storage Project, aims to become one of the largest compressed air facilities globally, with an estimated cost of AUD 652 million, covering mine repurposing and specialized cavity design.
• Operating as a fuel-free energy storage system, it will compress air during periods of low electricity prices and release it during high-price, high-demand periods.
• The project will serve as a backup power supply for the city of Broken Hill, contributing to Australia’s renewable energy goals of achieving 82% renewable energy by 2030, as stated by ARENA’s CEO Darren Miller.

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