Pumped Hydro’s solution is based on an understanding of the electricity market and future revenue streams for a pump power plant. We have implemented this understanding in software to simulate revenue streams from electricity trading and balancing services for the power grid. This information is used to design and optimize a facility adapted to the local market and operating conditions. Each facility has a unique and customized management schedule, which maximizes the utilization of energy storage for the benefit of its owners. The technology itself is proven and consists of pumps, generators and turbines that form a synchronized system. By means of this, water is circulated in a closed system through corrosion-resistant pipes between an upper and a lower reservoir. Building reservoirs in underground mines lowers the cost and the environmental impact is minimal.
Pumped Hydro is a proven technology for energy storage. Although the technology has been around for a long time, its use is limited to water dams – constructing new dams is difficult and also not a sustainable alternative for the future. The founders behind Pumped Hydro Storage have developed a technique for storing energy underground, where abandoned mines have proven to have the necessary prerequisites. Closed mines are often regarded as an environmental negative but can now instead become new facilities for large-scale energy storage. Conventional hydroelectric power plants collect water in a lake or reservoir at higher altitudes. From there, the water is sent down to drive a turbine that generates electricity. Pump power plants have both an upper and a lower reservoir. The water is stored in an upper reservoir and sent through a turbine to the lower container when electricity is needed, for example when the sun is not shining, or the wind conditions are calm. In a pump power plant, the water can be pumped back to the upper reservoir when there is an excess of energy.
HOW IT WORKS
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