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    ARENA has announced $40 million in funding to fast track the development of South Australia’s first pumped hydro energy storage project.

    Four pumped hydro projects currently in development for South Australia have been positively assessed under the agency’s Advancing Renewables Program and will now be invited to submit a proposal to reach financial close, along with their lowest request for funding.The successful project will be at least 200 MW in capacity and must reach financial close by the end of the 2019-20 financial year.ARENA will invite the four applicants to submit final proposals for further assessment by October, with a single funding recipient to be selected by late 2019.The four projects are:
    AGL’s 250 MW project at a copper mine in Kanmantoo in the Adelaide HIlls
    Energy Australia’s 250 MW Cultana seawater project near Wyalla
    Rise Renewables 250 MW project at Baroota
    Sunset Power/Delta Electricity’s 242 MW Goat Hill project near Port Augusta
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