Sustainable Energy Solutions AB ("SENS") has signed a letter of intent with a European energy company to further explore the possibilities of further developing the UPHS project in Pyhäsalmi, Finland. Therefore, SENS has today requested an extension of the State aid decision previously announced by the Finnish Government.
The UPHS project in Pyhäsalmi
The UPHS (Underground Pumped Hydro Storage) project in Pyhäsalmi aims to create an environmentally friendly energy storage system by utilising the unique geological conditions of Pyhäsalmi, located in the central hinterland of Finland. The project is expected to play an important role in strengthening energy security and supporting Finland's transition to a more sustainable energy system. In order to investigate the conditions for using the UPHS facility in a different way than previously assumed, it has become necessary to investigate the conditions for being able to handle increased water volumes, including through further geological surveys. Therefore, SENS has today applied for an extension of the previously granted state aid.