Silvermines Hydroelectric Power Station to receive €4.3 million in EU funding

The Silvermines Hydroelectric Power Station is set to receive €4.3 million in EU funding for studies to set up a hydroelectric pumped storage system at the historic mining site that will help reduce price volatility, contribute to market stabilisation and increase the flexibility of Ireland's electricity system. It is one of eight cross-border energy infrastructure projects that have been approved for a total of €602 million in EU funds under the Connecting Europe Facility (CEF) for Trans-European Networks for Energy.