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3.2. EXISTING AUSTRALIAN PUMPED STORAGE Despite the significant potential and benefits of pumped storage hydro projects, only three projects currently exist in Australia (two in New South Wales and one in Queensland). These projects were built in markets in which thermal sources dominated, where the pumped storage could supplement supply at times of peak demand. The existing pumped hydro projects in Australia include:  Tumut 3 Power Station – construction completed in 1963. Installed capacity: 1800 MW (600 MW pumping)  Shoalhaven Scheme – construction completed in 1977. Installed capacity: 240 MW  Wivenhoe Power Station – construction completed in 1984. Installed capacity: 500 MW. 3.3. DRIVE TO FIND NEW PUMPED STORAGE PROJECTS As the proportion of renewable energy in an energy market increases, the need grows for the stability and consistency provided by utility-scale energy storage. A number of high-level studies to identify potential pumped storage hydropower sites have been undertaken using available GIS information. One such study has been undertaken by the Australian National University, which has identified 22 000 potential sites [8], which will need to be further refined. In addition, a number of detailed feasibility studies have recently been completed for two new pumped storage projects in Australia, namely the Kidston Pumped Storage Hydro Project and the Cultana Pumped Hydro Project. A brief summary of these two projects is provided below. 3.4. KIDSTON PUMPED STORAGE HYDRO PROJECT Genex Power is the developer of the Kidston Energy Hub in the north of the Australian state of Queensland. The site of the proposed development is the disused Kidston Gold Mine near Georgetown. Should the project be developed to its full potential, it will ultimately consist of a 250 MW pumped storage project, collocated with a 270 MW solar PV installation [9]. A 50 MW solar PV project is currently in the final stages of commissioning. A unique aspect of the Kidston Pumped Storage Hydro Project is its use of two existing mine pits as the upper and lower reservoirs. Given the significant potential water head differential that the pits offer, and the vast quantity of water the pits can hold, the project has been optimised to support 2000 MWh of continuous power generation in a single generation cycle 205