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ENERGY
Lake Onslow Pumped Hydro — Cancelled
Meridian Energy / Crown · Otago
Proposed 5GW pumped hydro storage scheme at Lake Onslow, Central Otago — New Zealand's largest ever infrastructure project. Would have provided dry-year energy security to prevent power crises. National cancelled the $16B project in January 2024, citing costs and timeline.
✕
Cancelled
No longer proceeding.
Key facts
- Region
- Otago
- Sector
- Energy
- Status
- Cancelled
- Estimated value
- $16b
- Indicative completion
- TBC
- Funding status
- No Source
- Lead organisation
- Meridian Energy / Crown
- Election risk
- Extreme
Election risk assessment
Cancelled by National government in early 2024. Would require Labour to reinstate. Enormous capex makes reinstatement uncertain even for Labour.
Government priority alignment
COUNTER — Cancelled. Counter to the government's fast-track-renewables energy approach.
Chronology
- 2017Electricity Authority study flags NZ's vulnerability to dry-year shortfalls
- 2019MBIE commissions NZ Battery Project feasibility study at Lake Onslow
- 2020Independent review recommends pumped hydro as preferred solution for energy security
- 2022NZ Battery Project business case published. Cost estimated at $4–16B depending on scope
- 2023Labour commits to investigating. Cost concerns grow. Election — National wins
- 2024National cancels Lake Onslow in January 2024. Energy security approach pivots to fast-track renewables