Different part of the grid - don't see it as a direct competitor. And in sunny QLD, there'll be no shortage of solar power generation requiring time-shifting!
Will be interesting to see what they plan for the upper reservoir and its storage capacity. It could be much larger than Kidston giving it some ability to provide relatrively long term storage if needed (like Snowy Hydro) where KS1 is primarily intended for intra-day load shifting.
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