This session will be devoted to the financial requirements necessary for the closing of a pumped storage project. A variety of elements are needed to financially close. The developer needs a power purchase agreement and an interconnection agreement, and they must project the pro forma and ensure capital costs fall into line. Finally, once the permitting is in place and the Federal Energy Regulatory Commission is in agreement, the project is ready for construction. A project with a cost of $1.5 to $3 billion involves a whole separate level of scrutiny.

Moderated by: Vladimir Koritarov