Pumped Hydro Storage Sweden AB, a pioneer in large-scale underground energy storage facilities, has selected Sweco Energy Markets for a revenue analysis related to a large-scale commercial application. Energy storage by pumped hydro is the dominating solution accounting for over 94 % of the total installed global energy storage capacity according to the International Hydropower Association. Pumped Hydro Storage Sweden innovates by applying proven technology in underground mines.
”We are an innovative company, aiming to enable the transition into a fossil-free energy system. However, it has to be commercially sound, thus determining the revenue potential in each project is a logical starting point for us”, says Raine Vasanoja, Commercial Director at Pumped Hydro Storage Sweden AB.
”We have conducted a thorough assessment of several reputable energy market specialists and decided to trust Sweco Energy Markets with this assignment. They show an in-depth competence in this field, act dynamically and fully in line with expectations from us, being a start-up company. This assignment is at the core of our business concept. We simply need a solid partner we can rely on, not only for this case, but for justification of future projects as well”, says Thomas Johansson CEO at Pumped Hydro Storage Sweden AB.
”Pumped Hydro Storage represents new thinking in a traditional industry going through very rapid change. Pumped Hydro Storage is a start-up company, but have been very professional in their assessment process, so it is very encouraging having been selected. Our team is very excited to work with Pumped Hydro Storage on this specific case and look forward to support them further on their journey”, says Frank Krönert, Principal Consultant at Sweco.