Former Oaky River hydropower scheme site listed for sale

A 214ha freehold property in the New England Tablelands region of New South Wales that formed the basis of the Oaky River hydropower scheme for nearly six decades has hit the market. 

Just outside the township of Wollomombi, the property’s key natural characteristics include generous water supply and suitable topography, while existing hydropower infrastructure spans five hydro turbines, two 2.7MW power generators, ample shedding and staff housing.  

It sits within the New England Renewable Energy Zone (NEREZ), which has been identified by the NSW Government among the highest priority areas for generating additional renewable energy. 

Other well-known cities in this region include Armidale, 55km to the west, and Coffs Harbour, 155km to the north-east. 

The property boasts 8.2km frontage to the Oaky River including Oaky Falls and spectacular native forests, also offering the scope for possible uses such as bio-conservation, carbon sequestration projects and/or retreat-style eco-tourism.  

The Oaky River hydropower scheme suppled renewable energy to the local area from 1956 until 2013, when severe flooding damaged the infrastructure. 

CBRE’s Boo Harvey and Edward O'Dwyer are managing a two-stage Expressions of Interest sale campaign, with submissions from interested parties invited before October 20. 

“Renewable energy is on the rise in Australia, accounting for nearly one-third of the country’s total electricity generation in 2021, and Oaky River is an ideal brownfield site for a significant redevelopment,” Ms Harvey said. 

“The natural rock formations are ideally-shaped for large reservoirs and, while the power generation system has been inactive for nearly a decade, much the infrastructure that pumped renewable power into the grid remains.”