New power station wind and solar energy storage power station

How will a pumped storage power plant contribute to the energy transition?

The company is making a significant contribution to the energy transition and is continuing its corporate transformation towards more renewable energy generation. By storing energy, the pumped storage power plant will contribute to greater security of supply in southern Germany.

Why are power plants being completed now?

The plants being completed now are special in part because of what they have endured, said Ric O’Connell, executive director of GridLab, a nonprofit that does technical analysis for regulators and renewable power advocates. Power plants take years to plan and build, and current projects likely began development during the COVID-19 pandemic.

Can solar-plus-storage meet rising demand without gas?

Energy Innovation analysis shows clean energy can come online fast enough to meet rising demand without needing gas to fill the gap, and solar-plus-storage has stepped up.

Why should we invest in a pumped storage power plant?

By storing energy, the pumped storage power plant will contribute to greater security of supply in southern Germany. This investment is part of our previously announced strategy to invest in growth and transformation towards a greener business.

What is solar-plus-storage & how does it work?

Solar-plus-storage is solving demand growth by providing reliable power when the grid needs it most – during peak hours. Solar consistently generates electricity to charge batteries, which can discharge their power whenever it’s needed, cheaper than a new gas turbine. Meanwhile new gas plants face massive hurdles to near-term growth.

Is 2024 a good year for power plant construction?

That old moniker has now lost its meaning: In 2024, the U.S. power industry is choosing clean energy for almost all its new capacity additions. This is a big year for power plant construction generally.