The initiative will boost the UK’s renewable energy capacity and supply electricity to 4.5 million homes.

With an anticipated connection date of 2031, the project will reduce national carbon emissions by 200 million tonnes throughout its operational life.

It will deliver 1.5GW of power for up to 30 hours, equivalent to 45 gigawatt hours of energy capacity.

The five-year construction phase involves the creation of a new headpond that can hold 58 million cubic metres of water.

The project is expected to attract between £1.5 billion and £2bn in investment and create 1,000 jobs at its peak.

ILI has partnered with infrastructure consulting firm AECOM, which will serve as technical consultants for the Balliemeanoch project.

ILI has developed a 3D visualisation of the proposed pumped storage hydro scheme, to enhance stakeholder engagement and understanding,

ILI Group chief executive Mark Wilson stated: “The submission of the planning application for Balliemeanoch marks another pivotal step in our commitment to enhancing the UK’s renewable energy capabilities.

“This comes on the heels of our recent sale to Statkraft for the Loch na Cathrach project (formerly known as Red John), which further validates the critical role of pumped storage hydro in our energy future.

“Long-duration energy storage projects like Balliemeanoch and Loch na Cathrach are essential for maintaining grid stability as we increase our reliance on renewable energy sources.

“This project not only addresses climate change but also promises significant economic benefits. It will increase the country’s energy security and has the potential to reduce household energy bills.”