New pumped hydro storage soars in China

China’s construction of pumped hydro storage capacity increased dramatically in the last year, with capacity under construction reaching 167GW, up from 120GW a year earlier, with investment in hydopower pumped storage in 2023 increasing 38% year on year to reach $47 billion USD.

This growth is illustrated in the figure below, which shows pumped hydro capacity under construction or in earlier stages of development at the end of 2023. Data from Global Energy Monitor identifies another 250GW in pre-construction stages, indicating that there is potential for the current surge in capacity to continue.

SourceMonthly Review Online, Feb 09, 2024.