The Scottish government has approved plans to expand Argyll’s Hollow Mountain underground power station.
Renewable power developer Drax proposes building a new £500m pumped hydro storage plant at its existing Cruachan facility near Oban.
The company said the extension could be operational in 2030 and support 1,000 jobs during its construction.
But before it can go ahead, the project needs new UK government policy that would support private investment.
Developers of pumped storage hydro schemes argue that the current UK energy market does not have the mechanisms to make such major projects attractive to investors.
The UK government said it did intend to enable investment in pumped hydro storage technology.
The existing underground power station at Cruachan was opened by the late Queen in 1965.
At the time, it was the first large-scale reversible turbine storage energy project of its kind in the world.
It is housed within a huge cavern dug out inside Ben Cruachan, which is nicknamed Hollow Mountain because of the project.
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