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Hydro has made the final investment decision for its largest hydropower development in over 20 years. Construction of the Illvatn pumped storage power plant in the Luster Municipality will begin this November, with operations expected to start in 2030. Renowned for its extensive hydropower infrastructure, the country utilizes reservoirs as dynamic energy stores, harnessing surplus electricity during low-demand periods. . Home » Energy » Hydropower » Norsk Hydro Makes Decision on 2. In August 2025, the first CO 2 volumes were injected and successfully stored in the reservoir. 2 billion (US$113 million), is expected to begin construction in 2025, targeting 2028 or 2029 for full. . “There are two market drivers for batteries: EVs and stationary energy storage. Energy storage is coming on strong now. An early adopter of electric transport, Norway. .
