Rye Development Selected by U.S. Department of Energy to Receive $81 Million for Lewis Ridge Pumped Storage Project
Rye Development, the leading U.S. developer of pumped storage hydropower, today announced that the U.S. Department of Energy (DOE) selected the company to receive $81 million to advance its Lewis Ridge Pumped Storage Project. The project will convert former mine land in Bell County, Ky., into a closed-loop, 287-megawatt (MW) pumped storage hydropower facility, with the capacity to store electricity for up to eight hours and generate electricity to power 67,000 homes.