Fortum to Study New Pumped Hydro Power Plant Construction in Sweden

Fortum Oyj has commenced a two-year preliminary study to explore the construction of new pumped hydro power plants in Sweden. The company aims to thoroughly assess three potential geographic locations, considering the economic viability, environmental requirements, and impact on energy supply security.

The study areas include Lekstjärn, located next to Fortum's Trängslet hydropower plant in Dalarna, and Bastvålen and Höljessjön in the Värmland region. Fortum currently operates three smaller pumped hydro plants in Sweden: Kymmen, Letten, and Eggsjön, with a combined capacity of 89.5 MW. The potential for expanding this production capacity through new facilities will be analyzed.

The study's objectives align with Fortum's strategy to reliably produce and deliver clean energy, supporting industrial decarbonization and growth in the Nordics. The increasing share of weather-dependent renewable energy sources is leading to greater volatility in electricity markets. Flexible solutions like pumped hydro power plants are becoming crucial for balancing the energy system and meeting rising electricity demand.

"Pumped hydro power plants offer much-needed flexibility to the Nordic energy system and increase predictability," stated Mikael Lemström, Head of Hydropower at Fortum. He highlighted the capability of these plants to produce, store, and consume large amounts of electricity over extended periods. Fortum has years of operational experience with its three existing Swedish pumped hydro facilities.

Decisions regarding potential future investments will be made at a later stage. In Finland, Fortum's affiliate Kemijoki Oy is also investigating pumped hydro possibilities.