PHES

I was interested to compare our PHES with the Snowy 2 scheme.

I came across this

"What was estimated in a back-of-an-envelope calculation at $2bn has now risen to $4.5bn, following a recent feasibility study, and some independent observers think even that may be a huge underestimate."

Its a 2000 MW scheme so thats $2.25m a MW and it is not expected to be online until 2024-2025.

Our 225 MW scheme on the other hand

"Very low capital cost at < $1M / MW and < $160 / kWh
Fast to market; possibly commissioned by end 2021"

Thats a massive difference of $1.25m per MW or $280m .

Hydro is also much cheaper than the other options and is of course much more environmentally friendly.

We own it freehold and have funded all the existing Infrastructure, roads ,power lines,water supply, the giant pit and upper resovoir massive drilling results etc.

The $240m losses in the balance sheet might just turn into an investment.

Don't forget lurking in the background is the Solar Farm option on all that rehabilitated country we own. Matching the PHES with an adjacent solar farm to supply the pump back power has to be super efficient.