Recognizing the importance of pumped storage hydropower technology as a means for energy storage, the US is promoting the establishment of a related international forum to bring together countries and companies for co-development of such projects.

According to sources, Greek deputy energy minister Gerassimos Thomas has received an invitation from the US department of energy and the International Hydropower Association requesting Greece’s participation in a US-headed multidisciplinary platform that will seek to reinforce the role of pumped-storage technology in current and future energy systems.

Pumped storage hydropower supply during the pandemic has provided vital energy support for US households, hospitals and schools, American experts have determined.

Washington believes pumped storage hydropower projects are capable of enhancing the reliability of grids and supporting further renewable energy penetration. This technology, regarded as tried and tested, can be further developed in the energy transition era, US experts support.

Pumped storage hydropower currently represents about 94 percent of global energy storage capacity, latest data has shown.

A pumped storage hydropower project planned by Greece’s GEK TERNA in Amfilohia, western Greece, is regarded as a pioneering initiative in Europe.

The country’s energy ministry has approached the European Commission for special funding support for this project, budgeted at over 500 million euros.