Turnbull has announced a $450,000 ARENA grant to Energy Australia to investigate options for a 100MW x 6hours scheme. Although not specified this seems to be the Cultana project near Port Augusta (a proposed scheme in the Adelaide hills was apparently abandoned some years ago due to local worries about the resevoirs leaking seawater). The scheme would aim to be operating by 2021 and cost around $200,000,000.
It uses seawater rather than 'fresh' water as a Kidston. The $200M indicative costs gives some scope for the Kidston cost as well.
Competition is heating up.
GNX Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
