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  4. > The World Market for Pumped-Storage Power Plants (Analyst version)

In the next ten years to come, the worldwide market for pumped-storage power plants will grow stronger than ever before. More than 100 new plants with an installed capacity of about 74 Gigawatts will be developed by 2020 – which is around 50 per cent of the plants existing today and adds up to an investment volume of about 56 billion euros. When also considering the upcoming maintenance measures, the investment volume will even increase to over 73 billion euros.

The main reasons for the emerging boom are the globally increasing share of renewable energies of the total electricity production as well as the construction of new coal and nuclear power plants especially in Asian countries. New pumped-storage power plants will be constructed for the intermediate storage of electricity from these fossil power plants and for the fluctuating generation particularly of wind and solar power.

Asia is the largest growth market. Above all, the market will be characterised by what is happening in China – the country alone will account for about a third of the global market volume. Further strong markets can be found in Europe and the USA where the development of renewable energies will be the main market factor. Due to the comparatively old age of the American and, in some cases, European plants, maintenance measures will play an ever stronger role there.

In light of this development, ecoprog GmbH has analysed the worldwide market for pumped-storage power plants in detail. We have not only included our own market knowledge in this study but also the expertise of public authorities, associations, operators and plant manufacturing companies.

This detailed research and up-to-date analysis of numbers, facts, estimations and trends of the worldwide market for pumped-storage power plants is of interest for manufacturers, suppliers, operators, disposal companies, business associations, research institutes and consultants.

The analyst version of “The World Market for Pumped-Storage Power Plants 2013/2014” includes:

• A detailed analysis of the essential political, economic, managerial and technical trends for the construction and operation of pumped-storage power plants.
• A precise description of the present and the future market volumes by countries, up to and including 2020, based on a transparent and comprehensible methodology.
• An overview on more than 250 new construction projects, more than 30 of which are already under construction and over 200 of which are currently being planned or discussed. They have a total installed capacity of more than 170 GW.
• An analysis and description of the most important operators and plant manufacturers of pumped-storage power plants.

Table Of Contents

The World Market for Pumped-Storage Power Plants (Analyst version)
Contents

Preface for the analyst version 11

Preface 12

Management summary 13

1 Background 16

1.1 Differentiation 16
1.2 Importance of pumped-storage power plants within the generation system 17
1.3 Problems of energy storage 19

2 Technology 21

2.1 Upper and lower reservoir (storage basins) 21
2.2 Machine room 22
2.3 Extending/upgrading a storage power station to a pumped-storage power plant 24

3 Key economic figures 25

3.1 Investment costs 25
3.2 Operating costs 27
3.3 Revenues 28
3.4 Profit 29

4 Market factors and framework 31

4.1 Pumped-storage hydro continue to be constructed for thermal baseload plants 31
4.2 Development of renewable energies needs pumped-storage power plants 32
4.3 Wind power and photovoltaics change operation of pumped-storage power plants 34
4.4 Topographical preconditions 36
4.5 Development of transmission grids - precondition for new pump storages 39
4.6 Pumped-storage power plants currently unrivalled in storing energy 41
4.7 Repowering and extension of pumped-storage and storage power plants 42
4.8 Lengthy approvals decide on new pump storages 43
4.9 Public resistance against pumped-storage power plants 45

5 The world market for pumped-storage power plants 46

5.1 Current plants 46
5.2 Market development 51

6 Competition 61

6.1 Turbine manufacturers 61
6.2 Operators 65

7 National markets 70

7.1 Argentina 70
7.2 Australia 72
7.3 Austria 76
7.4 Belgium 80
7.5 Bosnia-Herzegovina 83
7.6 Bulgaria 86
7.7 China 89
7.8 Czech Republic 95
7.9 France 98
7.10 Germany 102
7.11 Greece 110
7.12 Indonesia 113
7.13 India 116
7.14 Ireland 120
7.15 Italy 124
7.16 Japan 129
7.17 Lithuania 134
7.18 Luxembourg 136
7.19 Norway 138
7.20 Philippines 143
7.21 Poland 146
7.22 Portugal 150
7.23 Romania 155
7.24 Russia 159
7.25 Serbia 162
7.26 Slovakia 165
7.27 Slovenia 168
7.28 South Africa 170
7.29 South Korea 173
7.30 Spain 177
7.31 Sweden 182
7.32 Switzerland 185
7.33 Taiwan 190
7.34 Ukraine 193
7.35 United Kingdom 197
7.36 United States of America 203
7.37 Other countries 211
Algeria 211
Canada 211
Estonia 211
Hungary 211
Iran 212
Iraq 212
Latvia 213
Liechtenstein 213
Morocco 213
Macedonia 213
Netherlands 214
Thailand 214
Turkey 214
Uruguay 215
Vietnam 215

Glossary 216

Methodology and data 217



Table of figures

Figure 1: Pumped-storage power plants in the energy business 16
Figure 2: Typical capacity fluctuations in an electrical grid 18
Figure 3: Example of load course development of a pumped-storage power plant 19
Figure 4: How a pumped-storage power plant works 21
Figure 5: Francis (pump) turbine 22
Figure 6: Pelton turbine 23
Figure 7: Kaplan turbine 23
Figure 8: Extension of a storage power station to a pumped-storage power plant 24
Figure 9: Examples for investment costs of new pumped-storage power plants 25
Figure 10: Allocation of investment costs for pumped-storage power plants 26
Figure 11: Operating costs of a pumped-storage power plant 27
Figure 12: Exemplary calculation of a pumped-storage power plant (300 MW) 28
Figure 13: Development of prices on the European power exchange 2012 (intraday) 28
Figure 14: Exemplary calculation of costs and revenues of a 300 MW pumped-storage power plant 29
Figure 15: Worldwide number and planning of nuclear power plants 31
Figure 16: Worldwide capacity of wind power plants 32
Figure 17: Worldwide capacity of photovoltaic plants 33
Figure 18: Development of wind- and solar power in the EU according to national action plans 34
Figure 19: Generation from solar and wind power in Germany on 25 May 2012 35
Figure 20: Generation from pumped-storage power plants in Germany on 25 May 2012 36
Figure 21: Largest altitude differences in the European countries 37
Figure 22: Topographic map of the world 38
Figure 23: Grid transfer capacity to and from Germany 2010 40
Figure 24: Extension of HVDC undersea connections in Europe 41
Figure 25: Worldwide installed capacity in large-scale electricity storages (as of 2010) 42
Figure 26: Average age of pumped-storage power plants in chosen countries 43
Figure 27: Planning phases of developing a pumped-storage power plant project 44
Figure 28: Number of pumped-storage power plants worldwide 46
Figure 29: Installed capacity worldwide by regions 47
Figure 30: Installed capacity worldwide by country 47
Figure 31: Age of pumped-storage power plants 48
Figure 32: Map with installed capacities in pumped-storage power plants by country 49
Figure 33: Number of pumped-storage power plants > 500 MW by country 50
Figure 34: Average size of pumped-storage power plants by country 50
Figure 35: Known projects of pumped-storage power plants (as of 2013) 51
Figure 36: Annual additional construction of pumped-storage power plants worldwide 52
Figure 37: Growth of capacities by regions 2011-2020 53
Figure 38: Market volume new constructions by regions 2011-2020 54
Figure 39: Market volume new construction by country 2011-2020 55
Figure 40: Allocation of the worldwide capacities for pumped-storage power plants 1950-2020 55
Figure 41: Market volume of maintaining pumped-storage power plants worldwide 2011-2020 56
Figure 42: Development of number of plants by country 58
Figure 43: Development of the installed capacity by country 59
Figure 44: Market volume sum by country (million EUR) 60
Figure 45: Market shares of the largest turbine manufacturers for pumped storage power plants 61
Figure 46: Alstom's strongest pumped-storage power plant markets since 2003 62
Figure 47: Consolidation process of Voith Hydro GmbH 63
Figure 48: Consolidation process of Andritz Hydro GmbH 64
Figure 49: Market shares of the largest operators of pumped-storage power plants 66
Figure 50: Market shares of the operators of the largest new projects 68
Figure 51: Power generation by energy sources in Argentina 70
Figure 52: Pumped-storage power plants in Argentina 71
Figure 53: Power generation by energy sources in Australia 72
Figure 54: Pumped-storage power plants in Australia 73
Figure 55: Project outlook Australia 74
Figure 56: Map of pumped-storage power plants in Australia 75
Figure 57: Market development in Austria 76
Figure 58: Power generation by energy sources in Austria 77
Figure 59: Pumped-storage power plants in Austria (> 100 MW) 78
Figure 60: Project outlook Austria 79
Figure 61: Map of pumped-storage power plants in Austria 79
Figure 62: Power generation by energy sources in Belgium 80
Figure 63: Pumped-storage power plants in Belgium 81
Figure 64: Map of pumped-storage power plants in Belgium 82
Figure 65: Power generation by energy sources in Bosnia-Herzegovina 83
Figure 66: Pumped-storage power plants in Bosnia-Herzegovina 84
Figure 67: Project outlook Bosnia-Herzegovina 84
Figure 68: Map of pumped-storage power plants in Bosnia-Herzegovina 85
Figure 69: Power generation by energy sources in Bulgaria 86
Figure 70: Pumped-storage power plants in Bulgaria 87
Figure 71: Map of pumped-storage power plants in Bulgaria 88
Figure 72: Market development China 89
Figure 73: Power generation by energy sources in China 90
Figure 74: Pumped-storage power plants in China (> 100MW) 91
Figure 75: Project outlook China 92
Figure 76: Map of pumped-storage power plants in China 94
Figure 77: Power generation by energy sources in the Czech Republic 95
Figure 78: Pumped-storage power plants in the Czech Republic 96
Figure 79: Map of pumped-storage power plants in the Czech Republic 97
Figure 80: Power generation by energy sources in France 98
Figure 81: Pumped-storage power plants in France 99
Figure 82: Project outlook France 100
Figure 83: Map of pumped-storage power plants in France 101
Figure 84: Market development Germany 102
Figure 85: Power generation by energy sources in Germany 103
Figure 86: Pumped-storage power plants in Germany (> 100 MW) 105
Figure 87: Project outlook Germany 107
Figure 88: Map of pumped-storage power plants in Germany (> 100MW) 109
Figure 89: Power generation by energy sources in Greece 110
Figure 90: Pumped-storage power plants in Greece 111
Figure 91: Project outlook Greece 111
Figure 92: Map of pumped-storage power plants in Greece 112
Figure 93: Power generation by energy sources in Indonesia 113
Figure 94: Project outlook Indonesia 114
Figure 95: Market development India 116
Figure 96: Power generation by energy sources in India 117
Figure 97: Pumped-storage power plants in India 118
Figure 98: Project outlook India 118
Figure 99: Map of pumped-storage power plants in India 120
Figure 100: Power generation by energy sources in Ireland 121
Figure 101: Pumped-storage power plants in Ireland 122
Figure 102: Project outlook Ireland 122
Figure 103: Market development Italy 124
Figure 104: Power generation by energy sources in Italy 125
Figure 105: Pumped-storage power plants in Italy (> 100 MW) 126
Figure 106: Project outlook Italy 126
Figure 107: Map of pumped-storage power plants in Italy 128
Figure 108: Market development Japan 129
Figure 109: Power generation by energy sources in Japan 130
Figure 110: Pumped-storage power plants in Japan (> 500 MW) 131
Figure 111: Project outlook Japan 132
Figure 112: Map of pumped-storage power plants in Japan 133
Figure 113: Power generation by energy sources in Lithuania 134
Figure 114: Project outlook Lithuania 135
Figure 115: Power generation by energy sources in Luxembourg 136
Figure 116: Project outlook Luxembourg 137
Figure 117: Power generation by energy sources in Norway 138
Figure 118: Pumped-storage power plants in Norway 139
Figure 119: Storage hydro power plants in Norway 140
Figure 120: Planned and existing HVDC transmissions to Norway 140
Figure 121: Project outlook Norway 141
Figure 122: Map of pumped-storage power plants in Norway 142
Figure 123: Power generation by energy sources on the Philippines 143
Figure 124: Pumped-storage power plants on the Philippines 144
Figure 125: Project outlook on the Philippines 144
Figure 126: Map of pumped-storage power plants on the Philippines 145
Figure 127: Power generation by energy sources in Poland 146
Figure 128: Pumped-storage power plants in Poland 147
Figure 129: Map of pumped-storage power plants in Poland 149
Figure 130: Market development Portugal 150
Figure 131: Power generation by energy sources in Portugal 151
Figure 132: Pumped-storage power plants in Portugal 151
Figure 133: Project outlook Portugal 152
Figure 134: Map of pumped-storage power plants in Portugal 154
Figure 135: Power generation by energy sources in Romania 155
Figure 136: Pumped-storage power plants in Romania 156
Figure 137: Project outlook Romania 157
Figure 138: Map of pumped-storage power plants in Romania 158
Figure 139: Power generation by energy sources in Russia 159
Figure 140: Pumped-storage power plants in Russia 160
Figure 141: Project outlook Russia 160
Figure 142: Map of pumped-storage power plants in Russia 161
Figure 143: Power generation by energy sources in Serbia 162
Figure 144: Pumped-storage power plants in Serbia 163
Figure 145: Project outlook Serbia 163
Figure 146: Map of pumped-storage power plants in Serbia 164
Figure 147: Power generation by energy sources in Slovakia 165
Figure 148: Pumped-storage power plants in Slovakia 166
Figure 149: Project outlook Slovakia 166
Figure 150: Map of pumped-storage power plants in Slovakia 167
Figure 151: Power generation by energy sources in Slovenia 168
Figure 152: Pumped-storage plants in Slovenia 169
Figure 153: Project outlook Slovenia 169
Figure 154: Power generation by energy sources in South Africa 170
Figure 155: Pumped-storage power plants in South Africa 171
Figure 156: Project outlook South Africa 171
Figure 157: Map of pumped-storage power plants in South Africa 172
Figure 158: Market development South Korea 173
Figure 159: Power generation by energy sources in South Korea 174
Figure 160: Pumped-storage power plants in South Korea 175
Figure 161: Map of pumped-storage power plants in South Korea 176
Figure 162: Market development Spain 177
Figure 163: Power generation by energy sources in Spain 178
Figure 164: Pumped-storage power plants in Spain (> 100 MW) 179
Figure 165: Project outlook Spain 179
Figure 166: Map of pumped-storage power plants in Spain 181
Figure 167: Power generation by energy sources in Sweden 182
Figure 168: Pumped-storage power plants in Sweden 183
Figure 169: Map of pumped-storage power plants in Sweden 184
Figure 170: Market development Switzerland 185
Figure 171: Power generation by energy sources in Switzerland 186
Figure 172: Pumped-storage power plants in Switzerland (> 100 MW) 187
Figure 173: Project outlook Switzerland 188
Figure 174: Map of pumped-storage power plants in Switzerland 189
Figure 175: Power generation by energy sources in Taiwan 190
Figure 176: Topography and power plants of Taipower 191
Figure 177: Pumped-storage power plants in Taiwan 191
Figure 178: Power generation by energy sources in Ukraine 193
Figure 179: Pumped-storage power plants in Ukraine 194
Figure 180: Project outlook Ukraine 195
Figure 181: Map of pumped-storage power plants in Ukraine 196
Figure 182: Market development United Kingdom 197
Figure 183: Power generation by energy sources in the United Kingdom 198
Figure 184: Pumped-storage power plants in the United Kingdom 199
Figure 185: Project outlook United Kingdom 200
Figure 186: Map of pumped-storage power plants in the UK 202
Figure 187: Market development USA 203
Figure 188: Power generation by energy sources in the USA 204
Figure 189: Applications for constructing PSPs accepted by FERC 205
Figure 190: Pumped-storage power plants in the USA (> 100 MW) 205
Figure 191: Project outlook USA 207
Figure 192: Map of pumped-storage power plants in the USA 210
Figure 193: Project outlook Estonia 211
Figure 194: Project outlook Hungary 212
Figure 195: Project outlook Iran 212
Figure 197: Project outlook Latvia 213
Figure 198: Project outlook Liechtenstein 213
Figure 199: Project outlook Macedonia 213
Figure 200: Project outlook Turkey 214
Figure 201: Project outlook Vietnam 215
Figure 202: Differentiation of market regions 217

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