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Lake Onslow Pumped Hydro
Clutha Pumped Hydro Consortium (private) · Otago
A proposed pumped-hydro battery at Lake Onslow, Central Otago, for dry-year energy security. The figure shown is the highest official estimate, $15.7b, a P50 from the 2023 NZ Battery Project business case, for the scheme National cancelled in January 2024. It was then revived privately: the Clutha Pumped Hydro Consortium, whose shareholders include ex-Meridian chief Keith Turner and former minister David Parker, entered fast-track consenting in March 2026 with a scaled-back $8-10b scheme, about 1,500 jobs, potentially operating by 2035. Its scope, cost and financing remain unconfirmed.
Data current as at 13 Jun 2026, when the pipeline was last checked against its source.
Key facts
- Region
- Otago
- Sector
- Energy
- Status
- Planning
- Estimated value
- $15.7b
- Indicative completion
- 2035
- Funding status
- No Source
- Lead organisation
- Clutha Pumped Hydro Consortium (private)
- Election risk
- Extreme
Election risk assessment
Cancelled by National in 2024, then accepted for fast-track consent in 2026 via a private consortium, highly speculative, capital-intensive and politically contested.
Government priority alignment
COUNTER: Cancelled. Counter to the government's fast-track-renewables energy approach.
Chronology
- 2022NZ Battery Project business case; cost estimated $4–16B
- 2023Indicative Business Case: Lake Onslow cost estimate rises to $15.7b, a P50 figure up from ~$4b (March)
- 2024National cancels Lake Onslow (January)
- 2026Clutha Pumped Hydro Consortium accepted into fast-track consenting (March); ~$8–10b, operating by ~2035 if it proceeds
Source
RNZ: Lake Onslow pumped hydro cost estimate rises almost 300 percent to $15.7b (2023) ↗ · interest.co.nz: Government puts $15.7b price tag on Lake Onslow pumped hydro ↗ · RNZ: Lake Onslow pumped hydro scheme considered for fast-track by government (2026) ↗