Estonia’s First Pumped-Hydro Energy Storage Project partners with the Estonian government and receives a grant of €1,9M
Summary
With this cooperation, Zero Terrain is collaborating closely with the government to devise solutions to enable the realisation of the pumped-hydro energy storage (PHS) project in Estonia, including supporting securing capital and addressing market challenges.Additionally, Zero Terrain receives a grant of 1.98M from the states applied research programme to support Zero Terrain project development in Estonia and technology export.The Zero Terrain Paldiski 500MW underground long-duration energy storage plant is a significant advancement of the conventional PHS technology, making it possible to build anywhere, even on flat land.Zero Terrain Paldiski represents a notable milestone in the countrys energy system. It is the only greenfield pumped hydro energy storage project in the Northern Baltic region and will also be the largest facility in the country.Signing the MoU is a significant step forward in Zero Terrains journey towards a clean and secure energy future. This collaboration signifies the cooperation and a commitment to driving positive change in the Estonian renewable energy landscape, says Peep Siitam, the Founder and CEO of Zero Terrain.Estonia\xb4s first long-duration energy storage project, Zero Terrain Paldiski, obtained the main building permits in December 2022. According to Siitam, the grant will be used to develop Zero Terrain modular design, start development activities in other countries, and involve new investors in Zero Terrain Paldiski, Estonia.Zero Terrain is developing large-scale energy storage technology, enabling Estonia and other countries to switch to renewable energy more widely with such significant advancement of the conventional PHS technology, says Arbo Reino, an energy expert of the Estonian Business and Innovation Agency.The global need for long-duration energy storage (LDES) capacity is undeniable. 85120 TWh-hours of LDES is needed globally by 2040 (McKinsey, 2021), so the interest in our technology and project is high, especially in regions where the traditional PHS was impossible to implement due to geographical limitation, explains Siitam.Zero Terrain is jointly owned by the Estonian energy company AS Alexela, Baltic-Polish renewable energy company Sunly AS, Vool O\xdc, Combiwood Grupp O\xdc, Warmeston O\xdc, and Ronnivara O\xdc.For media inquiries and more information, please contact: Hedwig.Meidra@zeroterrain.com