expected ROI of lead acid battery storage project in New Zealand 2030

Is the NZ battery project a dry year solution?

This Indicative Business Case is supported by a significant body of technical evidence – but uncertainties exist across all options. The NZ Battery Project was set up with a predominant focus on the option of a pumped hydro scheme at Lake Onslow in Central Otago. This option has been raised as a potential dry year solution since as early as .

How can the NZ battery project achieve its strategic and investment objectives?

Ensure the NZ Battery Project will achieve its strategic and investment objectives. The project will have strong technical and policy directives which may at times be challenging to reconcile.

Could NZ battery project increase existing hydro storage?

The NZ Battery Project identified several potential options for increasing existing hydro storage, including through discussions with generators. Lake Pukaki in the South Island (pictured right) was identified as the only potentially suitable location for extension that could meet the required scale.

Why is the NZ battery investment proposal a high risk project?

The NZ Battery investment proposal is high risk, due to the scope, scale, and complexity of the project. An appropriate reporting and assurance approach is needed to provide assurance that the project is on track to deliver the intended outcomes. The approach to assurance for the project is outlined in Table 51.

What if the funding requirements for the NZ battery investment are too high?

If the funding requirements for the NZ Battery investment are much greater than anticipated, there may be increased cost burdens for the Crown or electricity consumers. The Indicative Business Case is informed by the current best available cost information, but this will continue to be updated as improved design information becomes available.

How will future decisions affect the NZ battery business case?

Future decisions made within the New Zealand Energy Strategy, Gas Transition Plan, Hydrogen Roadmap, action plan for decarbonising industry, transport decarbonisation, and Electricity Authority market development workstreams may impact the NZ Battery business case and investment, and vice-versa.

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