helps to mitigate climate change
Top headlines of the project
Performing deep geotechnical drillings of the Estonian 500-megawatt Pumped-Hydro Energy Storage in Paldiski marks as a next significant executive milestone of this strategic energy project with strong positive socio-economic impact. Solely the construction process of this natural battery will account for about 7% of the total volume of Estonian infrastructure construction in eight years, creating approximately 700 direct and indirect jobs and tax revenue for the state worth of 200 million euros.
EU supports the Estonian Pumped-Hydro Energy Storage project
Energiasalv Pakri’s 500MW pumped-hydro energy storage project is one of the EU 8 key energy infrastructure projects and the only Estonian project that received funding from the Connecting Europe Facility CEF programme under the 2019 CEF-Energy call.
Estonian Pumped-Hydro Energy Storage (Estonian PHES) Project studies’ Grant Agreement signed
The Innovation and Networks Executive Agency (INEA), under the powers delegated by the European Commission, and Energiasalv Pakri OÜ have signed grant agreement for conducting studies necessary to commence the construction works of Estonian PHES. The scope of envisaged studies entails geological investigations, Front-End Engineering Design (FEED) and environmental studies required to obtain building permit. The cost of proposed studies is up to 2,37 m€, up to 50% of which will be co-funded by INEA. The studies shall be completed by 31.03.2021 the latest. Estonian PHES is an innovative energy storage facility, which will significantly facilitate Estonian transition towards carbon neutral economy by enabling higher uptake of renewable energy into the energy system.