The Coire Glas project will receive $122 million in funding. The investment in this Scottish pumped storage hydroelectric project was announced by the British power company SSE. The technology used in this type of power plant pumps water to an upper reservoir before releasing it to generate electricity when needed. The Coire Glas project could provide power to about 3 million homes and would cost about £1.5 billion to build.
The Chur Glas project for balancing the electricity grid
Pumped hydro technology can help balance the increasing amount of renewable electricity on the power grid by using excess renewable energy to pump water and store it. The Coire Glas project could thus contribute to increasing the country’s energy storage capacity.
Expectation of clarity from the UK government
A final investment decision is expected in 2024, with project commissioning in 2031. However, SSE noted that the project requires greater certainty about its revenues. The latter has therefore called on the British government to quickly clarify its position. Particular attention will be given to how it will help facilitate the deployment of such projects. The government announced at last week’s budget that measures to support energy security would be announced later in March.
100 million pound investment in the design and advancement of the Coire Glas project
By investing in this hydroelectric project, SSE is contributing to Scotland’s energy transition. In addition, it also allows the increase of the country’s energy storage capacity.
