Queensland gold mine transformed into $4.7bn hydro site

• Evolution Mining and ICA Partners to transform Queensland gold mine into $4.7 billion pumped hydro storage facility, powering up to two million homes.

Evolution Mining and ICA Partners are planning to convert a gold mine in Queensland, Australia into a USD 4.7 billion pumped hydro storage facility. The Mount Rawdon Pumped Hydro Project aims to provide firming capacity and supply electricity to up to two million homes in Queensland. The partners have submitted the project's Environmental Impact Statement to state authorities for approval.

The project, with an investment of AUD 7 billion, is expected to be the lowest cost pumped hydro generation project per megawatt of capacity in Australia. The feasibility study has shown that the project is economically and socially attractive. Evolution Mining's executive chair, Jake Klein, expressed pride in repurposing the gold mine into a renewable asset for Australia's clean energy future.

Is the Mount Rawdon Pumped Hydro Project the most cost-effective in Australia?

• The Mount Rawdon Pumped Hydro Project is expected to be the most cost-effective pumped hydro generation project per megawatt of capacity in Australia.
• The project has an investment of AUD 7 billion, making it a significant investment in renewable energy infrastructure.
• The feasibility study has shown that the project is economically and socially attractive, indicating that it will provide long-term benefits to the region.
• Evolution Mining's executive chair, Jake Klein, has expressed pride in repurposing the gold mine into a renewable asset for Australia's clean energy future, highlighting the project's positive impact on the environment.