Seymour Energy Project
Community Investment Invited
Mitchell Community Energy Inc. proposes to establish a co-operative to fund an exciting renewable energy project that will provide Mitchell Shire Council with significant on-going financial savings. You are invited to a meeting to form the co-operative, where you will hear about the project and the opportunity to invest in it. The investment opportunity offered will provide a very safe return better than bank interest. Various levels of investment will be available.
The meeting will be held at WineXSam, 69 Anzac Avenue, Seymour on Tuesday 18 September at 7.00 pm. Everyone is welcome to attend and hear about this interesting venture. Enquiries: Jeff Wilmot 0477 054 666
PUMPED HYDRO ELECTRICITY STORAGE
This is our proposal to use the existing but unused Trawool Reservoir and the Goulburn River in a pumped hydro storage scheme. A pre-feasibility study carried out by the Melbourne Energy Institute and paid for by the Victorian Government’s New Energy Jobs Fund showed that the reservoir could store 36 MWh of energy which could generate 6 MW for 6 hours, would cost about $9,000,000 and return up to 7% based on arbitrage (buying power cheap and selling it dear). The Finkel review and the general urge for storage have come since then.
Subsequent to that Nathan Epps, then of Goulburn Valley Water and now of Sustainability Victoria took the proposal to the Intelligent Water Network. IWN is a partnership of Vicwater, 18 Victoria water corporations and DELWP that explores new technologies to meet common challenges. They decided to adopt the scheme and appointed two members to follow it through, in particular our contact to be Andrea Pogue of Goulburn Murray Water.
Our next step is to have a full design and feasibility study leading to a business case that can be pitched to potential investors. IWN encouraged us to submit an application for that to the Victorian Government’s Climate Change Innovation Grants, with Goulburn Valley Water and IWN as partners. This was unsuccessful, but DELWP set up a “market place” for unsuccessful applicants at which we pitched our projects to potential investors.
A representative from ARENA suggested we apply there. Applicants to ARENA must match the amount applied for, so for us the full project is out of the question but we could perhaps match what ARENA calls a desk top study or report (approximating our business case). Potential partners could be IWN, GVW and DELWP. And following encouraging discussions with Infigen they might also be partners.
To make the application we need to have a realistic estimate of the cost and obtained the agreement and cooperation of partners. Continue reading