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>60% efficient CAES, uniquely retro-fittable to give new economic life to suitably located power stations: cuts costs & emissions, adds revenue streams, with today’s technologies.
About
Storelectric is developing truly grid-scale energy storage with CCGT CAES, an innovative Compressed Air Energy Storage (CAES) that is uniquely retro-fittable to suitably located existing gas-fired power stations (OCGT and CCGT) (it can be new build too). A novel configuration of existing, off-the-shelf technologies to create electricity storage plants sized from 20MW to multi-GW, with durations of 4 hours to multi-days, the most cost-effective technology at this scale with strong double-digit IRR in today's market, un-subsidised and widely replicable. Needs/benefits: required to enable renewables to power the grid and country. Renewables are mostly intermittent (generate when they want); we turn the energy into baseload and dispatchable (available when needed), at truly grid scales. Validation: full engineering analysis of the technology has been done and reviewed by a major industry player. Synergies with the oil and gas industry: uses technologies and locations widely used in the industry; projects at comparable sizes; potential big enough to impact your corporate balance sheet beneficially and future-proof your business within the energy industry. Recognition: A first plant has been accepted in ENTSO-E’s Ten Year Network Development Plan and awaits approval as a European Project of Common Interest, i.e. important at a continental scale. Projects: Salt caverns (for air storage) have been offered to us, together with land and planning support, in Teesside and Cheshire; in discussion with others. Roll-out: global, including most EU countries. Producing a feasibility report soon for a major European petrochemicals firm. With TES CAES (our other CAES technology), there is potential to store enough energy to power Europe for a fortnight.
Key Benefits
• Enables renewables to power the grid without subsidies, almost globally. • Transitional technology with a clean future. • Transforms intermittent generation into dispatchable and baseload supply, at grid scale. • Profitable in increasing numbers of today’s markets in many countries, becoming more so. • Additional synergies with major renewable generators and interconnectors. • Leading in the development of a new global industry. • Global need, market and growth potential.
Applications
• Balancing de-carbonising electricity grids at lower whole-system cost. • Delivering balancing and ancillary services to grids. • Providing energy security at regional and national scale. • Making grid-scale (>20MW) renewable generation profitable without subsidy. • Enhancing profitability and utilisation of interconnectors. • Supporting the decarbonisation of other industries (heating, transportation, industry etc.). • Currently suited to globally-distributed salt basins; in future will also use other geologies which have been identified and which we will develop.