APPLICATION TO DEVELOP A CONCEPT OF LARGE-SCALE PUMPED STORAGE HYDROPOWER IN MINES

Important results from the project

Mine Storage aims to build a grid-supporting energy storage in the form of a pumped storage power plant in a mine in Sweden. The technology is proven, but not in underground mines in combination with advanced grid support operation. The grant enabled an application for an investment grant from the European Commission´s Innovation Fund, one of the world´s largest financial instruments for innovative technologies that can enable energy conversion. The work was done in a consortium consisting of mining companies, a technical consultant, an energy company and an equipment supplier.

Expected long term effects

The project resulted in detailed information in the form of a work breakdown structure, a customized machine configuration, a civil works plan, CAPEX and operating costs broken down into 220 cost items, a risk management plan, calculations of emission savings, a financial analysis and structure, an analysis of innovation and scalability, and a schedule for the mine storage project that was the subject of the grant application to the innovation fund. With an investment grant and a first mine storage, the concept can be duplicated in Sweden and globally and enable energy conversion.

Approach and implementation

The project was organized around the assessment criteria the investment grant: emission savings, degree of innovation, maturity, scalability and cost-effectiveness. Each area was broken down into sprints, where the project developed specifications and plans for configuration, design, installation, validation and operation. Risk management, environmental risks, permit testing, stakeholders, financial sustainability and structuring were also developed. A grant consultant was also hired to help, who called in input data, coordinated, wrote and submitted proposal.