Ara Ake Chief Executive Welcome’s Minister Woods Announcement To Investigate Pumped Hydro Storage
Cristiano Marantes, Ara Ake Chief Executive welcomed today’s announcement by the Hon Megan Woods, Minister of Energy and Resources, regarding the Government’s decision to fund the development of a business case for pumped hydro storage in New Zealand.
Cristiano Marantes said, “Pumped storage is used throughout the world as a stored energy option for hydro generation schemes to manage peak demand and dry hydrological years. With the Government's target of 100% renewable electricity by 2035, pumped hydro storage could be a solution to resolve New Zealand’s dry year electricity storage problem and help to decarbonise the wider energy system.
“Today’s announcement will start a conversation about the technical, environmental, and commercial aspects of pumped hydro storage and Ara Ake looks forward to being part of that conversation,” he added.
“The Minister’s announcement also includes additional funding to increase the electrification of industrial and process heat in the lower South Island,” explained Cristiano Marantes.
“Ara Ake is looking forward to working with the relevant stakeholders to explore innovative solutions to convert coal boilers to electricity and leverage the expertise of those in the Taranaki region who have the skills and knowledge to help do this.”
Ara Ake is New Zealand’s future energy company. Based in Taranaki, Ara Ake’s area of impact is in the demonstration and commercialisation stages of the innovation lifecycle. Through its network of local and global connections and partnerships, Ara Ake will identify opportunities and technology with change-making potential and connect them with the expertise, infrastructure and capital required to become a commercial reality.
To find out more about Ara Ake visit – www.araake.co.nz