Eesti Energia has received €584,950 in funding for development of Estonia’s first pumped storage project.
The joint agency of EAS and KredEx approved the funds to help prepare construction of the 255MW facility at the Ida-Virumaa mine site. Plans for the project are moving at a good pace, Eesti Energia said, with the preliminary environmental assessment of the site expected to be complete in early 2023.
According to plans, the project’s upper reservoir will be built on a tailings structure, and a closed mine will be used as the lower reservoir. The project is expected to start operating in 2026.
