It's a great solution if you happen to have the right geography for it. Not everyone does. And many countries have built out most of the suitable hydro sites already.
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Agree 100% check this baby out :-) https://www.verbund.com/en-at/about-verbund/visitors-centres/kaprun This should be a template. Every lake or river can do something similar (at scale) In Kaprun they used nature to help them out, it's brilliant.
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