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The acquisition supports AGL’s strategy to expand its long-duration storage portfolio, aligning with its goal to develop 12GW of new renewable energy and firming capacity by 2035. AGL chief operating officer Markus Brokhof stated: “Adding long duration storage such as pumped hydro is a focus for AGL as we continue to build out the breadth of our development pipeline to achieve our ambition of adding 12GW of new renewables and firming by 2035. It is crucial the future energy system is developed with a spectrum of storage and firming, encompassing short, medium, and long-term storage technologies.”
Brokhof noted that government policies defining long-duration storage as eight hours or more, combined with increased storage targets, have encouraged AGL to enhance its portfolio. Pumped hydro projects are particularly appealing due to their extended technical lifespan, ensuring reliability and affordability as Australia transitions to renewable energy.
Malcolm Turnbull, outgoing chairman of UHH, said: “Long duration storage will play a critical role in Australia’s future energy system, helping to keep the grid reliable by shifting renewable energy to match consumer demand.” Turnbull Renewables will continue to support the development of these projects, reinforcing their importance to the region’s energy infrastructure.
In March 2025, AGL submitted the Muswellbrook pumped hydro project, with a capacity of 400MW and 3.2GWh, for government environmental approval. This project features a lower reservoir within an existing coal mine void owned by Muswellbrook Coal Company and an upper reservoir at Bells Mountain, further expanding AGL’s storage initiatives in New South Wales.
The acquisition of the Glenbawn and Glennies Creek projects strengthens AGL’s commitment to sustainable energy solutions, supporting Australia’s renewable energy goals. By investing in long-duration storage, AGL aims to enhance grid stability, meet growing energy demands, and facilitate the integration of renewable sources. These projects position the Hunter region as a key hub for innovative energy storage, contributing to a reliable and affordable energy future.
