Energy transition fund Foresight Energy Infrastructure Partners (FEIP) has made its first investment in pumped storage hydro (PSH) technology.
The project, located at the disused 1,547 acre Glenmuckloch opencast coal mine near Kirkconnel, Scotland, will see the construction of a co-located 1600MWh capacity PSH plant and a 33.6MW wind farm.
The investment will enhance and aid the balancing of the UK power system enabling the integration of more renewable generation, the Foresight Group fund said.
There have only been five plants like this constructed to date in the UK, it added.
Once constructed, the PSH plant is expected to deliver energy at a rate of 210MW per hour, providing 8 hours of storage capacity.
Utilising two 105MW reversible hydro-turbines, the site will store power during periods of excess energy supply and release stored energy at times of peak demand.
The co-located wind farm will comprise 8 x 4.2MW turbines and will have the ability, via a direct connection, to power the PSH plant.
The project could power over 289,000 homes annually.
Partner at Foresight Richard Thompson said: “Long Duration Energy Storage has a critical role to play in the UK helping to reduce power prices for bill payers, enhancing security of supply and accelerating the road to net zero by enabling the integration of more renewables on the system.
“Foresight is delighted to be making its first Long Duration Energy Storage investment in a project that will create such a long lasting environmental legacy through the repurposing of a disused coal mine.”