The Rockliff Liberal Government is proud that Tasmania enjoys clean and reliable renewable electricity and is in the unique position to generate even more energy for decades to come.
''We know that Tasmania enjoys the lowest, or amongst the lowest, regulated prices in Australia, but we need to generate more to support our growing economy, continue to put downward pressure on prices and create more jobs,'' Minister Barnett said.
''That's why we have legislated to double our current 100 per cent self-sufficiency in renewable electricity to 200 per cent by 2040.
''The Tarraleah hydropower scheme, in the Central Highlands, is an iconic part of Hydro's 100-year history in Tasmania and is well positioned to play a significant role in this exciting future as the Australian energy market rapidly transforms.
''In April 2022 the Australian Government announced a funding commitment of up to $65 million alongside a commitment of $58 million from Hydro Tasmania and the Tasmanian Government to progress upgrade works and to advance the project to a Final Investment Decision in 2024,'' Minister Barnett said.
The current Tarraleah power scheme is ageing and is in need of significant investment. The upgrade works currently underway will position the scheme well for the future and will support improved safety and reliability of the current scheme.
The new intake at Lake King William and new 1km tunnel to the intake is in preparation for future replacement of the canals that feed the scheme. Upgrade works are also focused on an improved spillway at Mossy Marsh Dam and upgraded road infrastructure.
The planned $700 million redevelopment of Tarraleah power scheme could increase the output from 110MW to 190MW from the same amount of water and is currently being assessed for commercial viability, with a final investment decision due in mid-2024.
''These upgrade works are another positive step towards making Tasmania the renewables powerhouse of Australia through the Battery of the Nation's hydropower upgrades and pumped hydro and the Marinus Link vision agreed to in a historic partnership with the Australian Government announced in October 2022.
''These benefits will be returned to all Tasmanians through dividends that help fund schools, hospitals, roads and other important services and infrastructure that we rely on.
''The current Tarraleah upgrade works are also supporting nearly 100 jobs in the Derwent Valley and Central Highlands through a range of roles within Hydro Tasmania and also local contractors like civil construction company Hazell Bros,'' Minister Barnett said.
This work is also in addition to $300 million in upgrades to several West Coast power stations over the next 5-7 years and an additional $100 million in annual upgrades and maintenance that Hydro spends on its current infrastructure.
Tasmanians love the Hydro and its rich history and this Tarraleah project is now part of re-imagining our renewables future and addressing climate change for the benefit of all Tasmanians.
