THE company behind a proposed pumped hydro development near Yetholme says it is open to a "commercial partnership" for the project, but a decision on doing so has yet to be made.
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ATCO also says it is continuing to make progress on the development after deferring the environmental impact statement for the project last year.
The group opposed to the development, meanwhile, is adamant the proposed project has no social licence, has pointed to the "massive cost rises" for the renewable energy Snowy Hydro II and says all indications are that the Yetholme pumped hydro project "will be no different".
An article in the Australian Financial Review in late January speculated about ATCO looking for a co-owner or co-investor for the Central West Pumped Hydro project due to the size of the construction bill.
When contacted by the Western Advocate about that article, Central West Pumped Hydro (CWPH) senior project director Tim Knill said the proposed Yetholme project "remains one of NSW's most attractive pumped hydro energy storage project options and will be an important enabler of Australia's growing uptake of renewable energy".
"As we progress CWPH, ATCO is considering various options to bring this project to market," he said.
"Like many major infrastructure developments, ATCO is open to commercial partnerships which bring CWPH closer to a financial investment decision, and ensure the successful development, construction, and commissioning of the facility.
"No decision in relation to entering a commercial partnership has been made at this stage.
"If this pathway is pursued, a key priority will be to keep our landowners, community and key stakeholders informed and up to date."
The proposed project will involve the construction of a reservoir at the top of Mount Tennyson, near Yetholme, and another in a nearby valley.
It would require an initial 3.3 gigalitres from the Fish River and 400 megalitres annually to account for evaporation and seepage.
ATCO says water would be pumped to an upper reservoir when there is an excess of renewable energy, stored and then the water would be released to generate energy at the times of the day it is most needed.
Details about the project began to become clear in mid-2022 and a $9.44 million grant for the development was announced by the then-Coalition NSW Government in September that year.
The project is supported by Greening Bathurst and pumped hydro expert Professor Andrew Blakers has said previously that the amount of water required for it is "unlikely to be a problem".
On the other side of the ledger, Member for Bathurst Paul Toole has been clear that he has serious concerns about the potential development, native fish advocate Colin Gordon has raised his voice against it and Bathurst Community Climate Action Network (BCCAN) is also opposed.
Mr Gordon said taking more water from the catchment "via extractive processes will further accelerate local extinctions of our native species that have already been reduced to fragmented populations and vulnerable to extreme events".
BCCAN has said it is concerned about the project's reliance on extraction from the Fish River, "which forms part of a complex ecosystem supporting remnant biodiversity in the Yetholme area as well as being a designated part of Bathurst's drinking water catchment".
ATCO's Mr Knill said the company is continuing to make progress on the project.
"Ongoing engineering and design refinement in preparation for geotechnical studies, and engagement with landowners, all levels of government and the local community continues to be the key focus for the project team," he said.
"We are looking forward to announcing recipients of the 2024 ATCO Communities Fund in the coming weeks, as we continue to support local projects and initiatives that foster healthy, sustainable and prosperous communities."
'Cost seemingly has blown out'
IN regards to the article in the Australian Financial Review, the Friends of the Fish River group, which was formed to fight the Yetholme project, said the proposed development has "no social licence, no land access and currently no Environmental Impact Statement".
"ATCO's release of an Environmental Impact Statement has been deferred several times," Friends of the Fish River president David Willis said.
"Meanwhile, the cost seemingly has blown out from a stated investment of up to $500 million in early 2021: yet not a sod has been turned.
"The Snowy Hydro II project has seen massive cost rises and all indications are that this one will be no different."
He wondered if it was ATCO's intention "to offload the project to relieve pressure from its shareholders and bankers".
Mr Willis said Friends of the Fish River "would welcome an opportunity to hold a public forum to discuss the proposed project with ATCO and any interested investors, to explore the project parameters from a community perspective".
- READ ALSO: The full Friends of the Fish River letter.
