Mine Storage has entered into an agreement with British mining company Anglesey Mining to investigate conceptual plans and designs for a pumped hydro-storage project at a mine in Sweden.
Mine Storage has developed the 15MW Grängesberg mine storage pilot over the last year and is now planning a public consultation process that includes the municipality, county administrative board, local community, local fishery conservation associations, and other stakeholders.
The Grängesberg pilot will demonstrate how to make an existing mine into a circular asset by using the mine as a water reservoir and relying on gravity, to create a closed-loop pumped hydro energy storage system.
When there is an overproduction of electricity from for example solar or wind, energy can be stored in the mine storage by pumping water from the mine to an upper water reservoir at ground level.
Later, when the demand for electricity is higher, water is released back into the mine via turbines and electricity is sent back into the grid.
“We are very pleased to have signed this agreement with Mine Storage over our Grängesberg project.
“The Mine Storage team has identified the Grängesberg Mine as one of the most suitable locations to design, install and operate what could potentially be a significant pumped hydro-storage project,” said Jo Battershill, Chief Executive of Anglesey Mining.