UK Coire Glas 1.44GW Pumped Storage Project to Require Approximately £3 Billion Investment

en.Wedoany.com Reported - On October 30, SSE Renewables published the results of an independent economic impact study on the Coire Glas pumped storage project in Scotland. The study shows that, if approved and implemented, the project is expected to support 2,880 jobs across the UK at peak construction, deliver approximately £1.94 billion in spending with UK businesses, and create approximately £1.5 billion in economic value. The project has a planned installed capacity of 1.44GW and is expected to require approximately £3 billion in private capital investment.

The study was prepared by BiGGAR Economics. By region, at peak construction the project is expected to support 1,180 jobs in Scotland, deliver approximately £1.35 billion in spending with Scottish businesses, and create approximately £656 million in economic value. Once operational, the project is expected to support approximately 60 long-term jobs across the UK each year and create approximately £7 million in economic value annually.

The project developer SSE has invested more than £100 million in advancing pre-development work, including on-site geological surveys and the construction of an approximately 1.2-kilometre exploratory tunnel to provide geological data for the main works design. The project still needs to secure an investable proposition through the UK's Ofgem long-duration energy storage (LDES) support framework, and a final investment decision has not yet been made.

Coire Glas is located on the shores of Loch Lochy in the Scottish Highlands and is one of the large-scale pumped storage projects advanced in the UK in recent years. Once completed, the project will use pumped storage technology to provide long-duration energy storage capacity, supporting power system balancing and the integration of renewable energy.