Investment announced for 360 MW Hydropower project in Ireland
Foresight Energy Infrastructure Partners (FEIP), Foresight Group’s energy transition fund, has announced an investment into the development of a new 360 MW pumped storage hydro project in County Tipperary, Ireland.
The 148-ha site in Tipperary, situated on the Northern ridge of the Silvermines Mountain range, will feature a lower reservoir using an existing void and a newly created upper reservoir just below the hilltop crest. Each reservoir, with a capacity of 2.6 million m3 and 1.8 GWh storage, can deliver 300 MW over six hours. The project enables load variation and swift switches between import and export modes with high efficiency, providing access to grid support services and traditional load shifting. It plays a vital role in grid balance, reducing Ireland's fossil fuel reliance, and facilitating the integration of variable renewable generation.
Silvermines Hydro received EUR4.3 million (USD4.6 million) from the European Climate Innovation and Networks Executive Agency (CINEA), combined with FEIP’s investment, to accelerate project implementation.
