The Federal Energy Regulatory Commission on April 30 issued a 50-year construction and operational license for the 393-MW Swan Lake closed-loop pumped storage project, planned for a site near Klamath Falls, Ore. [P-13318].

The commission granted the license for the 50-year period requested by the developers rather than the default 40-year term, saying it was “appropriate” given the “substantial amount of new and costly construction” the project would entail.

The $716 million project, being developed by Rye Development and National Grid subsidiary GridAmerica, is slated to begin construction in 2019 and go into service by 2023, for an expected 45-year operational period.

Annual generation is expected to be 1,187,000 MWh, or more than 134 aMW.

FERC found that among the benefits provided by the project is its lower levelized cost of power—$96.86/MWh—compared to the $108.09/MWh cost of ­alternative power, based on the value of off-peak and ­on-peak ­electricity pricing, as well as the value of ancillary ­services to be provided by Swan Lake.

The agency released the final EIS for the project in January (WPW No. 15 [17]).