Why should we invest in a pumped storage power plant?

By storing energy, the pumped storage power plant will contribute to greater security of supply in southern Germany. This investment is part of our previously announced strategy to invest in growth and transformation towards a greener business.

How many MW of battery storage is being backed by private investors?

With technical assistance provided under this project, national grid codes and other essential policies were created, ultimately leading to 455 MW of battery storage being backed by private investors – to the tune of approximately $605 million.

Are energy storage technologies the key to reducing energy costs?

Energy storage technologies are also the key to lowering energy costs and integrating more renewable power into our grids, fast. If we can get this right, we can hold on to ever-rising quantities of renewable energy we are already harnessing – from our skies, our seas, and the earth itself. The gap to fill is very wide indeed.

How will a pumped storage power plant contribute to the energy transition?

The company is making a significant contribution to the energy transition and is continuing its corporate transformation towards more renewable energy generation. By storing energy, the pumped storage power plant will contribute to greater security of supply in southern Germany.

How many mw can a transmission system store?

The projects, currently in late-stage development, have planned energy storage capacities of between 300MW and 500MW each, with a storage duration of up to four hours. The partners said they are being developed at strategic locations that will support the transmission system by limiting the impact of network constraints.

Should storage projects be funded?

One large missing piece has been funding. Storage projects are risky investments: high costs, uncertain returns, and a limited track record. Only smart, large-scale, low-cost financing can lower those risks and clear the way for a clean future.