Sustainable Energy Solutions Sweden Holding AB announced it has taken another step in its international expansion with a new initiative to develop a potential underground pumped storage project in Spain. SENS has entered into a Letter of Intent ("LoI") with an energy operator who shares SENS's commitment to sustainability and innovation in the energy sector. With increased global attention, SENS has attracted interest from land and mine owners around the world.

These players see potential in transforming unused areas into underground pumped storage projects, a key component to support long-term energy storage and contribute to the energy transition. The agreement is a first step in preparing for a collaboration aimed at exploring the possibility of building an underground pumped hydro storage project in a specific mine in Spain. The focus is on evaluating the commercial, technical, financial, and legal aspects of the project to facilitate further discussions with the energy innovator and involve more stakeholders.

SENS has already been on-site at the mining area with its own Spanish staff, but the idea is that the evaluation will begin immediately, where SENS will initially conduct a feasibility study during the year, which the parties will jointly evaluate and then decide whether the project is financially viable.