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    Home > News > Power News > News Article

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    Sunshine Hydro Forms Joint Venture with Energy Estate


    November 28, 2022 - Marketline - Deals

     

      Deal In Brief

      Australian companies Sunshine Hydro and Energy Estate have formed a new joint venture with the goal of developing up to 4.5GW of long duration energy storage in Victoria which will be integrated with new renewable generation and green hydrogen production — this green power station ecosystem is known as a SuperHybrid

      Sunshine Hydro is one of 11 Australian companies to have been featured in Beyond Zero Emissions “Cleantech Hub” at COP27 which showcased rising stars of Australia’s zero-emissions manufacturing industry at the Australia Pavilion. Energy Estate is an active participant in the Victorian energy sector and its pipeline of projects in Victoria include over 3GW of offshore wind in partnership with developer BlueFloat Energy

      The new Victorian joint venture between Sunshine Hydro and Energy Estate intends to develop several large scale pumped hydro energy storage projects in Victoria with integrated green hydrogen production with an initial focus on the central regions of Victoria. In addition to developing pumped hydro projects the joint venture will assess the suitability of other long duration energy storage technologies for large scale deployment in Victoria such as flow batteries, solar thermal, compressed air and hydrogen storage

      The joint venture has been formed following the recent announcements of the accelerated closure of the coal-fired generators in Victoria and the support given by the current Victorian Government for new sources of clean energy generation such as offshore wind. It builds on the existing joint venture between the companies in Queensland where they are jointly developing the first SuperHybrid project which is located in Central Queensland near Miriam Vale – the Djandori gung-i project. In the Queensland project Sunshine Hydro and Energy Estate have also partnered with the local traditional owners, Gidarjil Development Corporation and Burnett Mary Regional Group (the region’s peak body for natural resource management). Energy Estate and Sunshine Hydro intend to extend their collaboration into other markets in Australia and globally where they we can develop SuperHybrids and help drive the transformation of the energy sector and the move to 24/7 delivery of clean energy.

      Deal Type Partnership
      Sub-Category Joint Venture
      Deal Status Completed: 2022-11-23

      Deal Participants

      Partner 1 (Company) Energy Estate
      Partner 2 (Company) Sunshine Hydro Pty Ltd

      Deal Rationale

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)

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