Vattenfall has acquired WSK Puls, a subsidiary of Strabag, which is developing a 400MW pumped hydro project in Germany.
The Leutenberg/Probstzella project is located near Saalfeld in Thuringia.
Peter Apel, Managing Director of Vattenfall Wasserkraft, said: “Pumped storage systems are of enormous importance for a fossil-free energy system of the future, especially with regard to grid stability, security of supply and the integration of the growing volatile power generation from sun and wind.
“This applies to existing pumped storage facilities as well as to possible new construction projects.
“The further development of this technology, which has been tried and tested for more than a hundred years, offers an opportunity to implement the goals of the energy transition.”
Christian Steinbauer, Managing Director of WSK Puls, added: “We have been developing the project over many years with the aim of building up further storage capacities for the European energy market.
“We are pleased that Vattenfall is taking over our development company WSK Puls and wish them every success in the further development and implementation of the important water storage power plant project in Leutenberg and Probstzella.”
In Germany, Vattenfall operates a total of 12 hydropower plants with an installed capacity of around 3GW, mainly pumped storage plants and smaller run-of-river power plants.
Vattenfall’s portfolio includes the 1GW Markersbach in the Erzgebirge and the 1GW Goldisthal in Thuringia.
In 2021, around 37 percent of the company’s total electricity generation came from hydropower.