The report indicates there is less than a 1% chance the project will be ready to deliver power by its initial 2030 deadline. It attributes these issues to unrealistic assumptions made during the project’s planning phase under the previous Labor government.
Queensland Treasurer and Energy Minister David Janetzki criticized the handling of the project, stating: “Labor’s energy policy was a house of cards waiting to collapse.” He added, “Queensland Hydro’s report showed there was less than a 1% chance of the Borumba Pumped Hydro project being completed on time.”
Janetzki emphasized the new government’s approach: “The Government will deliver an energy policy guided by engineering and economics, not ideology. Our energy policy will always be grounded in reality, on cost, timeframes, and delivery.”
The minister plans to meet with Queensland Hydro today to address the project’s financial, environmental, and stakeholder challenges.
The project includes constructing a new upper reservoir and replacing the existing Borumba Dam wall. These upgrades will expand Lake Borumba’s storage capacity from 46 to 224 gigalitres, significantly enhancing the region’s energy storage potential. If completed, the facility would have a total capacity of 2,000 MW with a storage duration of up to 24 hours.
