Pumped hydro could ‘paralyse’ renewables investment

Wed, 11 Nov 2020

The government risks paralysing investment in renewable electricity if it pursues the multi-billion dollar Lake Onslow pumped hydro option, Contact Energy chairman Rob McDonald says.Addressing shareholders at Contact’s online annual meeting, McDonald said the Onslow scheme was a solution “from the past.”“Whilst it is a fascinating project, we do have concerns that although the goal is worth pursuing, a multi-billion dollar solution from the past is high risk on several fronts and we are not sure it will solve the problem...

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