Polish utility PGE (WSE:PGE) and the National Fund for Environmental Protection and Water Management (NFOSiGW) have agreed to cooperate on the construction of the 750-MW Mloty pumped storage power plant in a drive to support the national grid's resilience and reliability.
The project's feasibility study, analysing the technical concept, the works to be performed and the investment outlays, will be completed in June, the partners said in a press release at the weekend. The facility is estimated to cost PLN 5 billion (USD 1.14bn/EUR 1.06bn), of which PLN 2.5 billion will be provided by NFOSiGW. Completion is planned for 2030.
The key part of the project in southwestern Bystrzyca Klodzka, Dolnoslaskie province, will be building two water reservoirs, which would additionally have a flood protection function. The plant will be connected to the grid by a 400 kV high-voltage power line, bolstering the energy security of the region.
The increase in renewable energy in the national power system lacks adequate storage facilities, fund CEO Przemysław Ligenza said, adding that a pumped storage plant is one of the best large-scale solutions to the problem. It will not only provide energy but will also support Poland's energy security in crisis situations, he noted.
PGE is a leader in hydropower in Poland, with a 90% share of the domestic market of pumped-storage power plants, therefore it has the expertise to develop this technology for the Mloty plant, CEO Wojciech Dabrowski said.
(PLN 10 = USD 2.28/EUR 2.13)
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