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Rye Development
Rye Development is leading a new generation of pumped storage hydropower in the United States, helping to create a more reliable energy grid. Rye Development shepherds projects from inception to market through fundraising, site identification, permitting, construction, policy/advocacy and contracting. Their partners are investors, utilities, policymakers, community leaders, and other stakeholders interested in bringing pumped storage hydropower projects to life.
Rye Development’s pumped storage projects are designed to provide long-term renewable energy storage and generation to support the transition to a cleaner, more resilient electric grid. With 10 pumped storage projects under development, Rye Development has a total of $10 billion in investment. In 2024, the Lewis Ridge Pumped Storage Project in Kentucky, which transforms former mine lands into a pumped storage facility, received an $81 million award from the U.S. Department of Energy.
