Energy
| Sector | Energy |
| Sub-sector | Renewables |
| Location | Australia |
Following BHP’s decision to responsibly transition Mt Arthur Coal to closure in 2030 (subject to securing various approvals), it identified an opportunity to enable the development of future land use solutions that have the potential to benefit the environment, economy, and local community, including a proposal for a Pumped Hydro Energy Storage (PHES) project.
The Mt Arthur Coal site could offer several advantages over other potential pumped hydro locations due to its existing excavations, no major tunnelling requirements, and access to existing high-voltage electricity transmission infrastructure.
Macquarie Capital was able to draw on its extensive network and industry relationships to find a trusted partner with strategic and cultural alignment with BHP, in ACCIONA Energía, to explore the development of a PHES project at the Mt Arthur Coal site.
Macquarie Capital leveraged its internal project development expertise and significant pumped hydro experience to assist in structuring a partnership selection process for the study. This partnership met BHP’s objectives and was tailored to the potential project’s specific characteristics, including location, scale, and timetable.
Outcome
Conceptual studies by BHP indicate that a PHES project at Mt Arthur Coal could provide daily power for up to 500,000 homes across NSW,1 and could support around 1,000 jobs during the construction phase, with ongoing employment opportunities over the lifetime of the project.1
homes across NSW could be powered daily1
and productive post-mining land use
potential jobs supported during construction1
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