LG&E and KU partner with Rye Development to evaluate Kentucky’s first pumped storage hydro system

New 266-megawatt energy storage project would bring 2,300 construction jobs to Eastern Kentucky

LOUISVILLE, Ky. (April 13, 2026) - Louisville Gas and Electric Company and Kentucky Utilities Company, subsidiaries of PPL Corporation (NYSE:PPL), and Rye Development, a leading U.S. hydropower developer, are teaming up to bring pumped storage hydropower to the commonwealth.

Situated in southeast Kentucky in Bell County on former coal mining lands, the Lewis Ridge Pumped Storage Project, which is under development by Rye Development, would utilize pumped storage technology-the world's largest, most common type of energy storage-moving water between two reservoirs at different elevations to store and generate electricity. Once constructed, it would be the first project of its kind in Kentucky and one of the first new pumped storage projects built in the United States in more than 30 years.

"The Lewis Ridge Pumped Storage Project is a compelling initiative to explore with Rye Development because it would be the first of its kind for Kentucky and would further diversify our flexible, sustainable power generation fleet supporting the commonwealth's economic growth momentum," said John R. Crockett III, President for LG&E and KU. "Pumped storage hydro has been used for decades around the world, and we're proud to be part of an effort that could introduce it here in Eastern Kentucky."

"Large-scale energy storage systems like Lewis Ridge not only strengthen the grid; they are significant long-term investments, providing economic benefits to communities and stabilizing energy prices for decades," said Paul Jacob, CEO of Rye Development_._ "We're excited to partner with LG&E and KU to advance the Lewis Ridge Pumped Storage Project in a region with a proud legacy of powering the nation."

A large water battery for grid resilience

The eight-hour water battery could generate 266 megawatts (MW) of on-demand electricity daily. During periods of low electricity demand, excess energy is used to pump water from the lower reservoir to the upper reservoir. When electricity demand is high, the stored water is released, passing through turbines to generate electricity when it's needed most.

According to Rye Development, the $1.3 billion project, which includes $81 million from the U.S. Department of Energy, would support an estimated 2,300 jobs during the four-year construction period and contribute about $1.65 million annually in local tax revenue when fully operational. The project received its preliminary permit from the Federal Energy Regulatory Commission in 2022 and is currently pursuing its final license.

Building on Kentucky's energy legacy

LG&E and KU are performing a thorough evaluation of the project and if proven effective, the utilities would then file a request with the Kentucky Public Service Commission for authority to further advance the project. Construction of the project could begin as early as 2027 with a commercial operation date of 2031.

LG&E and KU currently operate one of the most reliable power generation fleets in the nation. For more than a century, the utilities have owned and operated the Ohio Falls Hydro Plant, located in Louisville along the Ohio River, and Dix Dam Hydro Plant, located on Herrington Lake in Mercer County. The hydro plants are part of the utilities' more than 7,200 MW of power generation capacity comprised of coal, natural gas, solar and hydro.

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Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) and its companies, are regulated utilities that serve nearly 1.4 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 336,000 natural gas and 443,000 electric customers in Louisville and 16 surrounding counties. KU serves 581,000 customers in 77 Kentucky counties and 28,000 in five counties in Virginia. More information is available at www.lge-ku.comandwww.pplweb.com.

Rye Development is advancing the next generation of pumped storage hydropower, the largest and most proven form of energy storage. Rye is a partnership between EDF power solutions and Climate Adaptive Infrastructure-two global leaders in utility-scale energy storage. With more than four gigawatts of pumped storage hydropower under development in the United States, Rye is helping build a more reliable grid. Learn more at www.ryedevelopment.com.