Pumped Hydro Energy Storage (PHES) projects are a rare breed, so its came as a surprise that two came along at once, one last week that after 11 years in the US finally got an investor (but not yet a Power Purchasing Agreement) and here is the Australian Renewable Energy Agency (Arena) chasing one with $40 million of cash on offer. Time and time again people tell us that the only energy storage that is relied upon by modern grids is from Pumped Hydro, and yet they consistently fall foul of permission due to the hoops companies have to jump through over water security. Arena is now looking at projects already developed in South Australia on behalf of the Australian…