TALLINN, Estonia, April 04, 2024 (GLOBE NEWSWIRE) -- The Estonian Ministry of Climate signs the Memorandum of Understanding (MoU) with energy company Zero Terrain to help Estonia achieve its 100% renewable energy goal by 2030. With this cooperation, Zero Terrain is collaborating closely with the government to devise solutions to enable the realisation of the pumped-hydro energy storage (PHS) project in Estonia, including supporting securing capital and addressing market challenges.

Additionally, Zero Terrain receives a grant of €1.98M from the state’s applied research programme to support Zero Terrain project development in Estonia and technology export.

The Zero Terrain Paldiski 500MW underground long-duration energy storage plant is a significant advancement of the conventional PHS technology, making it possible to build anywhere, even on flat land.

Zero Terrain Paldiski represents a notable milestone in the country’s energy system. Paldiski Pumped Hydro Energy Storage plant is an EU Project of Common Interest (PCI project). It is the only greenfield pumped hydro energy storage project in the Northern Baltic region and will also be the largest facility in the country.

“Signing the MoU is a significant step forward in Zero Terrain's journey towards a clean and secure energy future. We believe there can’t be a renewable energy-driven energy system without large-scale, long-duration energy storage. This collaboration signifies the cooperation and a commitment to driving positive change in the Estonian renewable energy landscape,“ says Peep Siitam, the Founder and CEO of Zero Terrain.

Estonia´s first long-duration energy storage project, Zero Terrain Paldiski, obtained the main building permits in December 2022. Construction of the country's first pumped-hydro storage plant will begin in 2025. During the nominal operating cycle of 12 hours, Zero Terrain Paldiski generates 6GWh of power to the grid, which is somewhat more than the average daily consumption of all Estonian households.

Zero Terrain also receives a grant of 1.98M€ from the state’s applied research programme. According to Siitam, the grant will be used to develop Zero Terrain modular design, start development activities in other countries, and involve new investors in Zero Terrain Paldiski, Estonia.

“Zero Terrain is developing large-scale energy storage technology, enabling Estonia and other countries to switch to renewable energy more widely with such significant advancement of the conventional PHS technology,” says Arbo Reino, an energy expert of the Estonian Business and Innovation Agency.

"The global need for long-duration energy storage (LDES) capacity is undeniable. 85–120 TWh-hours of LDES is needed globally by 2040 (McKinsey, 2021), so the interest in our technology and project is high, especially in regions where the traditional PHS was impossible to implement due to geographical limitation," explains Siitam.

Zero Terrain is jointly owned by the Estonian energy company AS Alexela, Baltic-Polish renewable energy company Sunly AS, Vool OÜ, Combiwood Grupp OÜ, Warmeston OÜ, and Ronnivara OÜ.

For media inquiries and more information, please contact: Hedwig.Meidra@zeroterrain.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2cbd052e-529e-4878-b248-52bed8e1134f

This item of content is a press release from a third party provider who make no warranties or representations in connection with this content and therefore PA can make no warranties in respect of its use.

Images

Tags

More Like This

Hoymiles Powers Latvia's Largest Energy Storage Project at Tārgale

Highview Power to Develop 10 Gigawatt Hours of Long-Duration Energy Storage Delivering Over 10% of UK LDES Storage Targets

Europe Must Embrace Long Duration Energy Storage to Manage Costs and Meet Climate Goals: New Report

Huawei and SchneiTec Commission World's First TÜV SÜD-Certified Grid-Forming Energy Storage Project

New scheme to attract investment in renewable energy storage

ZTT at Intersolar Germany 2026: Full Industry Supply Chain Advantages--"Solar, Storage & Hydrogen solutions" Enabling a Global Low-Carbon Future

Energy Dome and ENGIE Sign Pioneering Storage Offtake Agreement

Sungrow and Sunotec commission Enery's 150 MW / 600 MWh Battery Storage Project in Bulgaria