Pumped Hydro Storage’s solution is based on an understanding of the power markets and future revenue streams for pumped storage hydropower plants. We have implemented this understanding in software to simulate revenue streams from electricity trading and balancing services for the power grid. We use the knowledge to design and optimize hydro storage facilities. These are easily adapted to local markets and operating conditions.
Each facility uses a unique and customized management schedule. This maximizes the utilization of the energy storage for the benefit of its owners. The technology itself is proven and consists of pumps, generators, and turbines in a synchronized system. With the help of this, water in a closed system is moved through corrosion-resistant pipes between an upper and a lower reservoir. Because the reservoirs are built in underground mines, the cost of these are low and the environmental impact is minimal.
Pumped storage hydropower (PSH) is a proven technology for energy storage. Today, more than 94% of the world’s total installed storage capacity is in the form of PSH. However, it is very difficult today to build new pumped hydropower. The reason for this is that the construction of new dams can lead to a major impact on local ecosystems and watercourses.
Conventional PSH collects water in a lake or reservoir at a higher altitude. From there, the water is led down through power a turbine that generates electricity and released into a lower reservoir. Pumped Hydro Storage have developed a technology to enable reservoirs to be constructed underground.
Disused mines are often considered an environmental burden and a scar on the landscape from industrialization. Through our innovative solution, they can instead become assets for large-scale energy storage. The mines also have the advantage that they often already have access power- and road infrastructure. This is normally a large cost for energy projects and overturns the finance prospects.
At Pumped Hydro Storage, we create value from a residual product in the industry. Through this, our solution arouses interest in both the energy, mining, and sustainability worlds.
Hydropower plants often have an upper and a lower reservoir. The water is stored in an upper reservoir and sent via a turbine to the lower reservoir or water stream when electricity is needed. This can be when the sun is not shining, or the wind is not blowing. With a power system that is increasingly reliant on weather dependent electricity production, the need for this type of backup-power will be increasingly important. In a pumped storage hydropower plant, the water can also be pumped back to the upper reservoir when there is an excess of energy.
HOW IT WORKS
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