POWER Magazine•about 1 month ago
Former Smelter Site Now Home to 1.2-GW Pumped Storage Hydro Project
Key Takeaway
A major 1.2 GW pumped storage project securing a 50-year FERC license represents a critical milestone for long-duration storage, offering substantial grid stability and capacity benefits for developers and large power consumers.
AI Summary
- •A 1.2 GW pumped storage hydro project in Washington state, developed by Rye Development and Copenhagen Infrastructure Partners (CIP), has received a 50-year operating license from FERC.
- •This significant regulatory approval de-risks the project, paving the way for construction and integration into the regional grid.
- •The project's scale provides substantial long-duration energy storage, critical for grid stability, integrating intermittent renewables, and firming capacity for large power consumers.
- •The involvement of CIP highlights continued strong investor interest and financing availability for large-scale, long-duration storage infrastructure.
Topics
capacity-marketfercfinancingpolicystoragetransmission
Article Content
Developers of a new pumped storage hydropower installation in Washington state said the Federal Energy Regulatory Commission (FERC) has issued a 50-year operating license for the project. Rye Development, a U.S.-based developer of pumped storage hydropower, and Copenhagen Infrastructure Partners (CIP), on behalf of its Flagship Fund CI V, on January 22 said FERC gave […] The post Former Smelter Site Now Home to 1.2-GW Pumped Storage Hydro Project appeared first on POWER Magazine .