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Rye Development advances Lewis Ridge pumped storage project

Rye Development advances Lewis Ridge pumped storage project
(photo courtesy Rye Development)

Rye Development filed both its pre-application document (PAD) and notice of intent to file a license application to the Federal Energy Regulatory Commission (FERC) for the Lewis Ridge Closed Loop Pumped Hydropower Storage project in Bell County, Ky.

Lewis Ridge is a closed-loop pumped storage project, located in a coal mining area. If constructed, the Lewis Ridge project would have the capacity to generate more than 200 MW for eight hours.

“The PAD filing for Lewis Ridge is an important milestone in the development process,” said Paul Jacob, chief executive officer of Rye Development. “Rye is excited to partner with the local community on this important project and to help deliver significant jobs and economic benefits to this coal region and state as the U.S. electric grid transitions.”

Recognizing the value of these multi-generational infrastructure assets, the recently passed Inflation Reduction Act awarded pumped storage a 30% investment tax credit, with the opportunity to increase that credit to 50% when located in former fossil fuel communities.

Rye said that as coal is phased out of the electric power grid across the nation, communities face uncertain employment and economic futures. Projects like Lewis Ridge create new jobs and economic activity in energy communities. Lewis Ridge will bring over 2,000 family wage construction jobs during a three- to five-year build period, as well as several dozen direct and indirect family-wage jobs during project operations.

“As mining winds down, the community will need the construction and permanent jobs in the future,” stated Michael Gambrel, general manager of the mine site for landowner Asher Land and Mineral in Pineville and past mining engineer on Jackson Mountain. “This will be a good thing, because the coal is almost gone from this property, and it will not be an idle property when we get this project permitted and constructed. It will be good for the community, the state, and the property owner.”

The PAD filing illustrates available information for all resource areas that FERC will assess during the licensing process. Lewis Ridge will break ground in 2027 and begin delivering reliable, affordable power in 2030.

Rye Development is a U.S. hydropower developer with a pipeline of over 25 projects in 10 states. Rye’s development of new hydropower on existing dams and new closed loop pumped storage hydro demonstrates the company’s commitment to the responsible development of untapped hydropower resources while maintaining rivers’ balance of environmental and commercial requirements, according to a release.