Abstract: Due to economic, environmental, and related policy factors, the number of abandoned mines in China has been increasing. Repurposing these abandoned open-pit mines as pumped-storage power stations can enhance energy storage capacity, regulate regional power grid loads, improve the stability and reliability of the power system, and promote ecological restoration of abandoned mine areas and the transformation of resource-based cities. This paper focuses on the West Open-Pit Mine in Fushun City as the research subject. By analyzing the distribution of abandoned mines and new energy sources in China and considering the peak regulation status of the power grid in Liaoning Province, demonstrating the impact of constructing a pumped-storage power station in the West Open-Pit Mine. Based on the relevant engineering background and geological exploration results of the West Open-Pit Mine, providing explanations for the site selection and design of the upper and lower reservoirs of the pumped-storage power station, as well as the layout of the water conveyance system. The construction of the pumped-storage power station will alter the water level in the abandoned mine pit, affecting the stability of its slopes. Constructing a cross-sectional model of the lower reservoir in the West Open-Pit Mine and importing it into Geo-studio software. Using the limit equilibrium method combined with steady-state seepage field to analysis the slope stability at water levels of −395 m、−350 m、−250 m. The results indicate the following the construction of the West Open-Pit Mine pumped-storage power station is technically feasible and economically reasonable. It can effectively meet the peak regulation and frequency modulation requirements of the power grid in Liaoning Province, alleviating operational pressures in the region. The proposed installed capacity for the West Open-Pit Mine pumped-storage power station is 1 200 MW, with a full-load operating time of 5 hours. The eastern area of the pit serves as the lower reservoir, while Nanhuayuan Lake functions as the upper reservoir, with approximately equal regulating capacities. Potential sliding risks in the West Open-Pit Mine slopes may occur at specific water levels. To ensure the stability of reservoir embankments after the pumped-storage power station is operational, further anti-seepage reinforcement measures are necessary.