US Department of Energy and the International Hydropower Association invited Greece to participate in a multidisciplinary platform that will seek to reinforce the role of pumped-storage technology in current and future energy systems. The United States is promoting the establishment of an international forum for cooperation on pumped-storage hydropower project, emphasizing their importance as a means for energy storage.
United States believes that pumped-storage hydropower projects are capable of enhancing the reliability of grids and supporting further renewable energy penetration. This technology, regarded as tried and tested, can be further developed in the energy transition period. Pumped-storage hydropower plants currently represents about 94 % of global energy storage capacity.
Earlier this week, Greek Ministry of Energy submitted to the European Commission (EC) for approval, a special state aid program proposal regarding a 680 MW pump-storage hydropower complex planned by GEK TERNA in Amfilochia in western Greece. The project has been on the EU’s list of Projects of Common Interest (PCI) since 2012, and its feasibility studies have received Juncker Plan financing. The total budget of the project, which should generate 816 GWh of electricity annually, is expected to exceed 500 million euros.
