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According to the business case for the project, construction of the federal government’s $ 600 million Kurri Kurri peak gas power plant is expected to begin in January. The developer of the Snowy Hydro project released the key document for the 660 megawatt generator on Friday. It shows that the project will strengthen the equivalent of 160,000 solar home installations, reducing emissions by around 87% compared to coal power. “There is a desperate need for distributable energy, such as peak gas power, to consolidate renewables and decarbonize the national energy market (NEM), said Snowy Hydro CEO Paul Broad . “It’s good for the environment, good for consumers and good for the local community. It will support renewable energy, help keep the lights on and create jobs and investment in the Hunter region. ahead of next month’s climate summit. Of the 261 submissions received during the recent public exhibition period, only two were in favor of the project. The financial argument of the project is also described as “strong” even though the generator will only run for about two percent of the time. It is expected to offer a double-digit internal rate of return of 12.3 percent. This figure compares to the performance of large wind and solar projects built in recent years which have had a return rate of between seven and nine percent. “The strength of the business case is due to the fact that the project generates revenue from multiple sources, which will increase competition in each of the relevant market segments of the national energy market. ts while playing an important role in safeguarding the reliability of supply in the domestic energy market, ”states the business case. The government has always maintained that peak gas is necessary to ensure the stability and affordability of the electricity supply after the Liddell power station closes next year. “The Liddell shutdown has the potential to create a repeat of the effects of the Hazelwood shutdown. A new gas plant, built by Snowy Hydro, represents an insurance policy to protect the safety of the system and manage the supply / supply balance. NEM asks, ”the company said. case said. “Peak demand growth is increasing, despite the fact that average consumption remains stable. Peak demand is difficult to predict, but every important factor points to the need for reliable, fast-starting additional capacity. Located in Hunter’s federal headquarters, the project will feature prominently in next year’s federal election campaign. Retired Hunter MP Joel Fitzgibbon has been a strong supporter of the project, as has Meryl Swanson, who occupies the seat next door to Paterson. An environmental impact study of the project released in May shows that it is expected to create around 250 jobs during construction, while there will be 10 full-time jobs underway when completed. The construction schedule for the project is based on the approval of the project by the NSW Department of Planning by the end of the year. If it goes as planned, the generator will be ready to generate electricity by December 2023. The main supporting infrastructure for the project consists of a 132 kilovolt electrical switching station adjacent to the project site, a new gas pipeline 20-kilometer lateral plus 14-kilometer loop. This component of the project is expected to create 350 construction jobs. IN THE NEWS: Our reporters work hard to provide local and up-to-date news to the community. Here’s how you can continue to access our trusted content:



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