Fortum has initiated a two-year feasibility study to assess the potential for new pumped hydro storage plants in Sweden. The Nordic energy company aims to evaluate the commercial, technological, environmental, and regulatory conditions for developing these plants, which could play a crucial role in balancing the country's energy system.
The feasibility study will focus on three areas in Sweden: Lekstjärnen, adjacent to Fortum's Trängslet hydropower plant in Dalarna County, and Bastvålen and Höljessjön in Värmland County. The study will explore whether new pumped hydro storage projects meet Fortum's economic and environmental criteria while enhancing energy security.
Fortum currently operates three pumped storage power plants—Kymmen, Letten, and Eggsjön—located in Värmland County, with a combined installed capacity of 89.5MW. The new study will assess the potential to increase this capacity through additional pumped storage plants.
Mikael Lemström, Fortum's executive vice president for hydro generation, emphasized the significance of pumped hydro storage in the region's energy future. “Pumped hydro storage offers much-needed flexibility to the Nordic energy system and increases predictability for households and industries,” Lemström said. “It has the ability to both produce, store, and consume electricity during long periods of time and in great amounts, reaching up to thousands of megawatts.”
The study is aligned with Fortum's strategy to provide reliable, clean energy while supporting the decarbonisation of industries in the Nordic region. The company also noted that the increasing share of weather-dependent renewable energy in the system will heighten market volatility, making flexible solutions like pumped hydro storage crucial to meet growing electricity demand and stabilise the energy system.
In addition to the Swedish project, Fortum's associated company, Kemijoki Oy, is exploring the potential for pumped storage hydropower plants in northern Finland.
