SSE plugs £100m into UK pumped storage mega project
Pamela Largue
Posted on: 22 March 2023
SSE has announced a £100 million ($123 million) investment into what could be Britain’s biggest pumped hydro storage scheme in 40 years.
UK energy company SSE has announced a £100 million ($123 million) investment into what could be Britain’s biggest pumped hydro storage scheme in 40 years.
The Coire Glas project is located on the shores of Loch Lochy, between Fort William and Inverness, Scotland.
The project received planning consent from the Scottish government in 2020 and, if approved, would more than double Britain’s total current electricity storage capacity.
SSE hopes to make a final investment decision on £1.5 billion Coire Glas in 2024, and to fully construct and commission the pumped storage scheme by 2031.
Once complete, Coire Glas would be capable of delivering 30GWh of long duration storage.
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SSE plc finance director Gregor Alexander said: “The £100 million investment we have announced today will help play a crucial role in further advancing the Coire Glas project towards a final investment decision in 2024...
“Our investment commitment today also signals a significant down-payment by SSE to keep this critical project moving forwards.
"And our ability to reach a positive final investment decision will clearly depend on the prevailing policy environment for long duration electricity storage and long-term infrastructure projects more broadly.
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“Whilst Coire Glas doesn’t need subsidy, it does require more certainty around its revenues and it is critically important the UK government urgently confirms its intention on exactly how they will help facilitate the deployment of such projects.”
Pumped storage mechanism
According to SSE, the scheme would take excess energy from the grid and use it to pump water 500 meters up a hill from Loch Lochy to an upper reservoir the size of nearly 11,000 Olympic-sized swimming pools.
The water will be stored before being released to power the grid when wind output is low and customer demand is high.
Coire Glas will generate enough power for three million homes in just under five minutes and provide firm, flexible power for up to 24 hours non-stop.
It's been hailed as on of the largest hydroelectric schemes across Scotland and will create up to 500 full time construction jobs at peak construction.
Around half of the £100m development investment will now be allocated to the pre-construction refinement phase of the Coire Glas project, including a comprehensive package of site investigation works which have now commenced and will complete later this year.
