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international project planning and execution that I’ve gained from the working group home with me.” Roddy Cormack, Senior Associate at Dentons, remarked on the significance of long-duration energy storage: “Long duration energy storage and pumped storage hydropower in particular is pivotal in terms of giving our electricity grids the stability and flexibility they need to transition to forms of renewable generation and the achievement of net zero goals. Playing a role in the guidance of industry and policy decision makers to assist such projects get through FID and beyond at such a crucial time for our planet has been an enormous honour. The guidance note doesn’t provide all answers for all projects because each PSH project is unique. It does, however, set out what the key questions are
making decision makers aware of the issues they need to consider and find solutions for drawing on the examples of best practice we have provided. Stimulating consideration of the key issues early will give decision makers more confidence in progressing projects beyond the drawing boards. It is crucial that business and financial models used in decision making recognize the importance of PSH schemes in the stabilizing of grids increasingly reliant upon variable renewable energy generation. The overall value of PSH involves both generation and storage elements and the policy and regulatory frameworks such schemes sit in may need to flex to recognize both aspects to make such schemes economically viable – otherwise such vital projects may never get passed FID stage.”
Tanzania BII invests in hydropower and wind expansion British International Investment (BII) has announced a significant investment agreement with Meridiam, aiming to bolster hydropower and wind power capacity in Tanzania. The agreement, signed late June, commits $15 million to the Meridiam-owned Rift Valley Energy (RVE), with a potential increase to $25 million, to support the installation of an additional 7.6MW of renewable energy for Tanzania’s national grid. This investment is part of a broader strategy
to expand sustainable energy access in the region. The hydropower projects, alongside new wind energy installations, are set to provide reliable electricity to approximately 170,000 people annually and connect 4,000 businesses and households to the grid for the first time. The initiative is expected to generate 1,800 new jobs and reduce carbon emissions by up to 17,000 tonnes per year by 2027. Nick O’Donohoe, BII’s Chief Executive Officer, emphasized the transformative potential of this project: “Millions of people in Tanzania do not have access to energy and this greatly impacts their ability to access essential services and opportunities. This agreement with Meridiam to support Rift Valley Energy will improve the lives of thousands of people in rural Tanzania as the energy it will provide will empower many sectors which will help to enhance educational opportunities, healthcare services, job creation and industrial productivity.” Rift Valley Energy, a Tanzanian renewable
energy infrastructure company, is wholly owned by Meridiam. Since its acquisition in 2023, Meridiam has been focused on expanding RVE’s generation assets, which currently include a 30MW portfolio of renewable energy projects and the operation of two rural distribution networks spanning 460 kilometers in the Southern Highlands of Tanzania.
Mathieu Peller, Meridiam’s Deputy CEO and Africa Head, highlighted the alignment of this project with Meridiam’s core mission:
6 | August 2024 |
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“Rift Valley Energy is an investment which is true to Meridiam’s mandate and purpose, and we are pleased to partner with BII to grow the renewable energy projects being developed by the company. This facility affirms our confidence in Tanzania as a market, where the Government has clear and ambitious economic development plans which we look forward to supporting through sustainable investment.” The national electrification rate in Tanzania
is currently 37%, with rural areas lagging at just 24%. The hydropower projects funded by BII and Meridiam aim to address this disparity by providing clean and affordable power to local industries, including factories processing tea, veneer, timber, and plants for water and pole treatment.
BII’s longstanding commitment to East Africa is underscored by its current $1.4 billion portfolio in the region, which supports private sector growth through innovative financing solutions and strategic partnerships.
Germany
Uniper recommissions Happurg pumped storage plant Uniper has announced the recommissioning of the Happurg pumped storage plant near Nuremberg, with an investment of around €250 million. The plant, expected to be back online in 2028, will help stabilize southern Germany’s electricity supply by storing energy and balancing the fluctuating output from renewable sources. “This investment is part of our previously announced strategy to invest in growth and transformation towards a greener business,” said Uniper CEO Michael Lewis. “We want 80 percent of our generation capacity to be carbon neutral by 2030, and the Happurg pumped storage plant will be an important strategic part of that.” The 160MW plant, which was shut down in 2011 for safety reasons, will undergo extensive refurbishment. The plant can store approximately 850MWh of electricity, making it the largest of its kind in Bavaria. The refurbishment includes repairing the upper
reservoir and overhauling the equipment in the powerhouse. Holger Kreetz, Uniper COO, emphasized the company’s commitment to hydropower: “With the revitalisation of the Happurg pumped storage plant, we are expanding our hydropower portfolio. The operation of hydropower plants requires a high level of capital and skilled personnel. Uniper and its predecessor companies have proven over many decades that they can operate these plants safely, efficiently and in an environmentally friendly manner.” The project has received approval from the District Office of Nuremberg following a thorough feasibility study and planning approval procedure. The recommissioned plant aims to contribute significantly to grid stability and security of supply by providing fast, flexible, and efficient energy storage. “Pumped storage is by far the most proven
large-scale energy storage technology,” said Klaus Engels, Director of Hydropower at Uniper. “They are emission-free, inherently sustainable, and make an important contribution to grid stability and security of supply – enabling the integration of fluctuating solar and wind power and thus paving the way for the energy transition.”
Construction work on the Happurg plant will begin immediately, with operations scheduled to resume in 2028.
Australia Geotechnical investigations underway at Wivenhoe Dam Geotechnical investigations have started at Wivenhoe Dam in Queensland, Australia, as part of the Wivenhoe Dam Improvement Project. Water Minister Glenn Butcher visited the site to inspect the work being done by engineering company GHD. These investigations, which are expected
to last until late 2024, will assess the ground conditions and foundations of the dam, supporting up to 10 jobs on-site. The 2024-25 Queensland Budget, presented by Premier Steven Miles, allocated $11.46 million for planning work related to this project.
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