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Finance

Polish power company opens information point for planned 1050 MW pumped-storage power plant

On Monday (5 February), Polish energy company PGE opened a local information point for the planned “Młoty” pumped-storage power plant in Bystrzyca Kłodzka, southwestern Poland. 

It is a publicly accessible place for the local community, where information about pumped-storage power plants and the construction of the “Młoty” power plant is available. Educational and informational activities related to the project are also planned. 

The planned pumped-storage power plant is expected to have a capacity of 1,050 megawatts (MW) and consist of two water reservoirs, which would also serve the additional functions of flood control and maintaining water retention in the region. The completion of the project is set for 2030.

“The Green Energy Storage ‘Młoty’ is a strategic project from the point of view of energy transformation and energy security in southwestern Poland. Therefore, it is important to continue this green investment, and the opening of the Local Information Point meets the expectations of residents and is one of the key activities in the field of communication regarding this investment,” said Wojciech Dąbrowski, President of the PGE Management Board. “We are a responsible investor who cooperates with the local community. That is why, in July last year, we announced that we would open a Local Information Point for the Green Energy Storage “Młoty”, where you will be able to obtain reliable information about the project, ask questions, and take part in educational activities.”

In June 2023, a feasibility study for the “Młoty” plant was completed, showing that the investment is feasible, the operation of the pumped-storage power plant would support the national power system and that it could protect the region from potential floods.

In October 2023, PGE and the National Fund for Environmental Protection and Water Management (NFOŚiGW) signed an investment agreement for financing the construction of the power plant. In 2023, a comprehensive 12-month natural inventory was also conducted, and PGE submitted an application to the national power system operator (PSE) to determine the grid connection conditions.

Currently, PGE is preparing to initiate proceedings for the general contractor of the investment. Work is also underway on the Environmental Impact Assessment Report, which will be submitted to the Regional Directorate for Environmental Protection.

Read the full article here

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