Construction permit secured for 550 MW pumped hydro storage project in Estonia

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Construction permit secured for 550 MW pumped hydro storage project in Estonia

Energiasalv has been granted a construction permit by the Consumer Protection and Technical Regulatory Authority of Estonia for the construction of the 550 MW pumped hydro storage facility in Paldiski, on the Pakri Peninsula of northwestern Estonia.

The project is part of the 10-year network development plan drafted by the European Network of Transmission System Operators (Entso-E) that started in 2009. Energiasalv has been granted EUR650 million (US$708.1 million) funding as an EU Project of Common Interest. The pumped hydro plant is expected to provide up to 6 GWh of storage capacity during the one storage cycle of 12 hours. The output of the recorder is comparable to the average daily electricity consumption of Estonian households. 

The company will continue with the pre-qualification process for construction procurement at the beginning of February. It intends to complete the procurement process in 2023 and start construction of the project in the summer of 2024. The project is planned for commercial operation by 2029.

 

List of country news

Country news

  • October 26, 2020

    Van Oord acquires stake in 1 GW offshore wind farm in Estonia

    Van Oord has acquired a stake in the Estonian offshore wind farm developer Saare Wind Energy. Saare Wind Energy is developing the 1 GW Saaremaa offshore wind farm at an area covering up to 200 square kilometers south-west of the Estonian island Saaremaa. The development of the wind farm started in 2015. 

    Read more
  • January 31, 2020

    Van Oord joins development of 600 MW offshore wind in Estonia

    Van Oord and Saare Wind Energy have agreed to mutually develop the 600 MW Saaremaa offshore wind farm. Saare Wind Energy is an Estonian developer involved in developing the offshore wind farm, covering 154 square kilometers, south-west of the Estonian island Saaremaa.

     

     

    Read more
  • July 12, 2017

    BaltCap launches first infra fund

    BaltCap, the largest private equity investor in the Baltic region, has launched BaltCap Infrastructure Fund (BIF) with the planned size of €100 million (US$114 million).

    Read more
  • November 10, 2016

    EIB considers investing in BaltCap Infrastructure Fund

    The European Investment Bank (EIB) has announced it is considering to invest in BaltCap Infrastructure Fund. Read more
  • August 26, 2016

    EU invests €187.5 million in first gas pipeline between Estonia and Finland

    European Commission has allocated €187.5 million (US$211.45 million) for the construction of the Balticconnector, the first Estonia-Finland gas pipeline. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.