The Spanish energy group Iberdrola has announced plans to invest more than €1.5bn to develop a 1.8 GW pumped-storage hydropower plant in Vilariño de Conso, Ourense (north-western Spain). The Conso II project is planned to start construction in 2025 and it should be able to generate and store energy through a pumped-storage system to be located completely underground, respecting the natural environment and minimizing the visual impact on the area. The project is planned to take 6 years of construction and once completed, it is expected to generate 4 TWh/year of power (equivalent to the average daily consumption of 10 million people) and to store up to 58 GWh, which will ensure a secure and stable power supply for the region.
In 2022, the Spanish government approved its energy storage strategy for 2050, targeting 22 GW on storage capacity (including pumped storage) by 2030 and 30 GW by 2050. Spain had an electricity capacity of 126 GW at the end of 2023, of which 20 GW (16%) came from hydropower.
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