The scheme uses the energy of water that flows from a network of reservoirs.
It covers an area of 162 square kilometres, which includes the Nant-y-Moch, Dinas and Cwm Rheidol reservoirs.
Nant-y-Moch, with a depth of 46m (150.9ft), is the largest.
It was created when a 350m (1,148ft) long dam was built across the Rheidol river, to hold back 26 billion litres of water.
Statkraft’s vice president Dennis Gevermann said some people suggest the Dinorwig power station in Llanberis, Gwynedd, is bigger.
But he answers: “That’s a pump storage, we are not pumped storage.
“Once the water has been guided to our turbines, it goes into the Rheidol river and ultimately the Irish Sea. So that makes [Rheidol] the biggest of its kind in Wales and England.
“It was an absolute milestone for mid and west Wales building such a large hydro station providing electricity to the grid, supplying a lot of jobs during the construction and after the construction as well.”
About 40 people work at the power station now.
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