A company owned by former prime minister Malcolm Turnbull and his wife Lucy has won a tender to develop plans for two pumped hydro projects in the Upper Hunter.
WaterNSW has awarded a development agreement to Upper Hunter Hydro (UHH) to explore the feasibility of the projects using WaterNSW land and reservoirs in the Hunter Valley.
The company was registered in early 2022 under the ownership of Wilcrow Pty Ltd - a Turnbull family entity that has traditionally held its pastoral properties in the Upper Hunter.
The pumped hydro projects, which would deliver long duration storage totalling more than 1.4 gigawatts for eight to 12 hours, could power a million homes.
Upper Hunter Hydro has been granted access to the Glenbawn Dam and Glennies Creek Dam as part of its investigation.
WaterNSW said the company would seek to secure all necessary approvals and consent for their projects.
Elsewhere in the region, AGL and Idemitsu are exploring the feasibility of establishing a $450 million pumped hydro project at the former Muswellbrook Coal site at Bells Mountain.
Mr Turnbull said pumped hydro projects would provide important support for industry and employment in the Hunter.
"Australia has abundant wind and solar generation, some of the best in the world. But the sun doesn't always shine and the wind doesn't always blow. Pumped hydro provides the long duration energy storage we need to make renewables available 24/7 and secure our clean energy future," he said.
"Renewables development is not for those wanting instant gratification .... but it is dawning on the market that we are going to need a lot more long duration storage than we thought."
Mr Turnbull said the Upper Hunter Pumped Hydro would proceed to a detailed design phase that incorporates "wide ranging community and stakeholder engagement" as well as "thorough environmental assessment," to secure planning approvals and backing from investors.
